McKesson Co. (NYSE:MCK) Stock Position Decreased by Sentry Investment Management LLC

Sentry Investment Management LLC cut its stake in shares of McKesson Co. (NYSE:MCK) by 17.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 587 shares of the company’s stock after selling 120 shares during the period. Sentry Investment Management LLC’s holdings in McKesson were worth $343,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MCK. JPMorgan Chase & Co. raised its holdings in McKesson by 1.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after buying an additional 46,659 shares during the period. Norges Bank acquired a new stake in shares of McKesson during the fourth quarter valued at approximately $1,024,140,000. Putnam Investments LLC lifted its position in shares of McKesson by 3.2% in the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after acquiring an additional 62,242 shares in the last quarter. Swedbank AB acquired a new position in McKesson in the 1st quarter worth approximately $669,326,000. Finally, Boston Partners grew its position in McKesson by 4.1% during the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after purchasing an additional 47,140 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Up 0.9 %

Shares of NYSE:MCK opened at $510.45 on Thursday. The stock has a market capitalization of $66.20 billion, a PE ratio of 22.81, a P/E/G ratio of 1.16 and a beta of 0.44. McKesson Co. has a 1 year low of $417.65 and a 1 year high of $637.51. The firm has a fifty day moving average price of $570.15 and a 200 day moving average price of $557.58.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the prior year, the company posted $7.27 EPS. The firm’s revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts forecast that McKesson Co. will post 32.14 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a $0.71 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MCK. JPMorgan Chase & Co. raised their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI lowered their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Citigroup dropped their target price on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday. Bank of America boosted their price objective on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Barclays increased their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $622.07.

Insider Buying and Selling

In related 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 owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 11,259 shares of company stock valued at $6,635,492. Company insiders own 0.11% of the company’s stock.

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.