American Century Companies Inc. Has $10.05 Million Position in McKesson Corporation $MCK

American Century Companies Inc. increased its position in shares of McKesson Corporation (NYSE:MCK) by 16.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,718 shares of the company’s stock after acquiring an additional 1,895 shares during the period. American Century Companies Inc.’s holdings in McKesson were worth $10,052,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of McKesson by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after purchasing an additional 232,286 shares during the last quarter. Geode Capital Management LLC grew its position in McKesson by 4.1% in the second quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock valued at $2,057,065,000 after acquiring an additional 112,224 shares during the last quarter. Northern Trust Corp grew its position in McKesson by 0.7% in the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after acquiring an additional 10,179 shares during the last quarter. Boston Partners raised its stake in McKesson by 33.3% during the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after acquiring an additional 365,484 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of McKesson by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock worth $868,237,000 after acquiring an additional 107,638 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MCK shares. Bank of America increased their price objective on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Wells Fargo & Company raised their price objective on McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Robert W. Baird upped their target price on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Finally, UBS Group increased their target price on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $887.69.

McKesson Stock Performance

McKesson stock opened at $813.61 on Friday. The firm has a market cap of $100.42 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.33 and a beta of 0.38. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $895.58. The firm has a 50 day moving average price of $814.51 and a two-hundred day moving average price of $744.37.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. McKesson’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $7.07 earnings per share. As a group, equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 10.21%.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is 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.