McKesson Co. (MCK) Shares Bought by Vulcan Value Partners LLC

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Vulcan Value Partners LLC grew its position in McKesson Co. (NYSE:MCK) by 7.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,768,099 shares of the company’s stock after buying an additional 273,090 shares during the quarter. McKesson comprises about 3.9% of Vulcan Value Partners LLC’s holdings, making the stock its 9th biggest position. Vulcan Value Partners LLC’s holdings in McKesson were worth $502,664,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Unigestion Holding SA acquired a new stake in shares of McKesson in the second quarter valued at about $35,787,000. Strs Ohio lifted its stake in shares of McKesson by 4.9% in the second quarter. Strs Ohio now owns 363,323 shares of the company’s stock valued at $48,467,000 after purchasing an additional 17,057 shares during the period. Victory Capital Management Inc. lifted its stake in shares of McKesson by 284.7% in the second quarter. Victory Capital Management Inc. now owns 77,291 shares of the company’s stock valued at $10,311,000 after purchasing an additional 57,201 shares during the period. Martingale Asset Management L P lifted its stake in shares of McKesson by 38.6% in the second quarter. Martingale Asset Management L P now owns 6,443 shares of the company’s stock valued at $860,000 after purchasing an additional 1,796 shares during the period. Finally, Brandes Investment Partners LP lifted its stake in shares of McKesson by 0.5% in the second quarter. Brandes Investment Partners LP now owns 727,626 shares of the company’s stock valued at $97,066,000 after purchasing an additional 3,289 shares during the period. 88.58% of the stock is currently owned by institutional investors and hedge funds.

MCK traded up $0.63 during midday trading on Friday, reaching $126.13. 8,819 shares of the company’s stock were exchanged, compared to its average volume of 1,347,263. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt-to-equity ratio of 0.68. The stock has a market cap of $24.66 billion, a P/E ratio of 9.96, a PEG ratio of 1.32 and a beta of 1.25. McKesson Co. has a 1-year low of $122.49 and a 1-year high of $178.86.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, July 26th. The company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.01. The business had revenue of $52.61 billion during the quarter, compared to analyst estimates of $52.91 billion. McKesson had a negative net margin of 0.18% and a positive return on equity of 25.19%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.47 earnings per share. analysts forecast that McKesson Co. will post 13.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, August 31st. This is a positive change from McKesson’s previous quarterly dividend of $0.34. McKesson’s payout ratio is currently 12.36%.

A number of brokerages have issued reports on MCK. Royal Bank of Canada cut their target price on shares of McKesson to $158.00 and set a “market perform” rating for the company in a research report on Friday, June 29th. ValuEngine cut shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 2nd. Leerink Swann set a $160.00 target price on shares of McKesson and gave the stock a “market perform” rating in a research report on Tuesday, May 29th. Robert W. Baird cut shares of McKesson from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. Finally, Standpoint Research upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $154.30.

In other news, Director N Anthony Coles sold 1,350 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $128.69, for a total value of $173,731.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.87% of the company’s stock.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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