Charles Schwab Investment Management Inc. Acquires 10,977 Shares of McKesson Co. (NYSE:MCK)

Charles Schwab Investment Management Inc. raised its position in shares of McKesson Co. (NYSE:MCK) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 804,338 shares of the company’s stock after purchasing an additional 10,977 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in McKesson were worth $372,393,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of McKesson in the third quarter worth about $26,000. BKM Wealth Management LLC bought a new stake in shares of McKesson in the fourth quarter worth about $31,000. WASHINGTON TRUST Co boosted its stake in McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after buying an additional 34 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in shares of McKesson during the 3rd quarter valued at approximately $61,000. Finally, Orion Capital Management LLC purchased a new position in shares of McKesson during the 3rd quarter worth about $63,000. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent analyst reports. Argus boosted their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Morgan Stanley upped their price objective on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. SVB Leerink initiated coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Robert W. Baird lifted their price target on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $559.29.

McKesson Stock Performance

McKesson stock traded down $0.55 during midday trading on Wednesday, hitting $545.20. 799,422 shares of the company were exchanged, compared to its average volume of 706,458. McKesson Co. has a fifty-two week low of $373.28 and a fifty-two week high of $566.01. The firm has a market capitalization of $71.64 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. The business has a fifty day simple moving average of $531.17 and a two-hundred day simple moving average of $493.81.

McKesson (NYSE:MCK) last posted its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the prior year, the firm earned $7.19 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts expect that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio is currently 11.24%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.