DE Burlo Group Inc. Raises Holdings in McKesson Co. (NYSE:MCK)

DE Burlo Group Inc. boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 43.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,135 shares of the company’s stock after buying an additional 8,835 shares during the quarter. McKesson makes up approximately 2.3% of DE Burlo Group Inc.’s investment portfolio, making the stock its 18th biggest holding. DE Burlo Group Inc.’s holdings in McKesson were worth $17,016,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB acquired a new position in McKesson during the 1st quarter valued at about $669,326,000. Bessemer Group Inc. lifted its holdings in shares of McKesson by 3,621.7% in the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after buying an additional 340,007 shares during the period. Bristol Gate Capital Partners Inc. purchased a new stake in McKesson in the 1st quarter worth approximately $97,510,000. Third Point LLC acquired a new stake in McKesson during the fourth quarter valued at $76,392,000. Finally, American Century Companies Inc. grew its position in shares of McKesson by 134.6% during the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock valued at $128,850,000 after acquiring an additional 126,567 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Down 0.3 %

NYSE MCK opened at $479.24 on Thursday. The firm has a 50 day moving average of $556.72 and a two-hundred day moving average of $556.74. The stock has a market capitalization of $62.15 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter in the prior year, the business posted $7.27 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts expect that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.59%. McKesson’s dividend payout ratio (DPR) is 12.69%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research analyst reports. Bank of America lifted their price target on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Wells Fargo & Company cut their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Mizuho raised their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Citigroup reduced their target price on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $613.36.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 11,259 shares of company stock worth $6,635,492 in the last 90 days. 0.11% of the stock is owned by 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.