ProShare Advisors LLC Raises Stake in McKesson Co. (NYSE:MCK)

ProShare Advisors LLC lifted its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,192 shares of the company's stock after purchasing an additional 1,519 shares during the period. ProShare Advisors LLC's holdings in McKesson were worth $13,217,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC raised its stake in McKesson by 17.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 846 shares of the company's stock worth $482,000 after buying an additional 124 shares during the period. ERn Financial LLC acquired a new position in McKesson during the 4th quarter worth approximately $228,000. Gateway Investment Advisers LLC raised its stake in McKesson by 25.6% during the 4th quarter. Gateway Investment Advisers LLC now owns 5,941 shares of the company's stock worth $3,386,000 after buying an additional 1,212 shares during the period. Ritholtz Wealth Management raised its stake in shares of McKesson by 2.4% in the fourth quarter. Ritholtz Wealth Management now owns 13,036 shares of the company's stock worth $7,429,000 after purchasing an additional 302 shares during the last quarter. Finally, Cypress Wealth Services LLC purchased a new stake in shares of McKesson in the fourth quarter worth approximately $226,000. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

NYSE MCK traded down $7.33 during trading hours on Tuesday, reaching $719.07. 809,495 shares of the company's stock traded hands, compared to its average volume of 917,420. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $730.42. The firm has a market cap of $89.96 billion, a PE ratio of 32.92, a PEG ratio of 1.29 and a beta of 0.53. The firm has a 50-day simple moving average of $684.84 and a 200 day simple moving average of $629.90.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. McKesson's revenue was up 18.9% compared to the same quarter last year. During the same period last year, the business earned $6.18 EPS. Sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. McKesson's dividend payout ratio is currently 10.99%.

Analysts Set New Price Targets

Several analysts have recently commented on MCK shares. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. StockNews.com raised McKesson from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley increased their price objective on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, Mizuho raised their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $686.69.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by company insiders.

McKesson Company 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.