Victory Capital Management Inc. Raises Position in McKesson (MCK)

Victory Capital Management Inc. boosted its stake in McKesson (NYSE:MCK) by 39.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,090 shares of the company’s stock after purchasing an additional 5,688 shares during the period. Victory Capital Management Inc.’s holdings in McKesson were worth $2,830,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in McKesson by 1.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 85,203 shares of the company’s stock valued at $13,287,000 after purchasing an additional 1,537 shares during the last quarter. Legacy Capital Partners Inc. increased its position in McKesson by 11.5% in the 4th quarter. Legacy Capital Partners Inc. now owns 3,303 shares of the company’s stock valued at $515,000 after acquiring an additional 340 shares during the period. Cornerstone Wealth Management LLC acquired a new position in McKesson in the 4th quarter valued at approximately $311,000. LPL Financial LLC increased its position in McKesson by 7.6% in the 4th quarter. LPL Financial LLC now owns 39,623 shares of the company’s stock valued at $6,179,000 after acquiring an additional 2,795 shares during the period. Finally, Rhumbline Advisers increased its position in McKesson by 1.3% in the 4th quarter. Rhumbline Advisers now owns 405,094 shares of the company’s stock valued at $63,174,000 after acquiring an additional 5,389 shares during the period. 88.37% of the stock is owned by institutional investors and hedge funds.

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Several equities analysts have issued reports on MCK shares. Credit Suisse Group restated a “sell” rating and issued a $130.00 price target on shares of McKesson in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a research report on Friday, February 2nd. Bank of America decreased their price target on shares of McKesson from $179.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, April 11th. Mizuho decreased their price target on shares of McKesson from $186.00 to $179.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Finally, Barclays started coverage on shares of McKesson in a research report on Thursday, March 8th. They issued an “equal weight” rating and a $165.00 price target for the company. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. McKesson has an average rating of “Hold” and an average price target of $175.53.

In other news, SVP Erin M. Lampert sold 1,413 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $149.38, for a total transaction of $211,073.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.20% of the company’s stock.

MCK opened at $145.81 on Friday. McKesson has a twelve month low of $134.25 and a twelve month high of $178.86. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.67. The firm has a market cap of $30.09 billion, a PE ratio of 11.54, a PEG ratio of 1.34 and a beta of 1.31.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 24th. The company reported $3.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.56 by ($0.07). McKesson had a return on equity of 23.55% and a net margin of 0.03%. The firm had revenue of $51.63 billion for the quarter, compared to analyst estimates of $51.36 billion. During the same quarter last year, the company earned $3.41 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. research analysts anticipate that McKesson will post 13.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 1st will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, May 31st. McKesson’s dividend payout ratio (DPR) is presently 10.78%.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes branded and generic pharmaceutical drugs, and other healthcare-related products; and provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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