NorthCoast Asset Management LLC Decreases Stake in McKesson Co. (NYSE:MCK)

NorthCoast Asset Management LLC cut its stake in McKesson Co. (NYSE:MCK) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,756 shares of the company’s stock after selling 489 shares during the quarter. NorthCoast Asset Management LLC’s holdings in McKesson were worth $2,057,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Brandes Investment Partners LP increased its stake in shares of McKesson by 14.0% in the 2nd quarter. Brandes Investment Partners LP now owns 461,234 shares of the company’s stock worth $88,206,000 after acquiring an additional 56,762 shares during the last quarter. Vantage Consulting Group Inc acquired a new stake in shares of McKesson in the 2nd quarter worth $249,000. People s United Financial Inc. acquired a new stake in shares of McKesson in the 2nd quarter worth $6,518,000. Banque Cantonale Vaudoise increased its stake in shares of McKesson by 57.8% in the 2nd quarter. Banque Cantonale Vaudoise now owns 10,583 shares of the company’s stock worth $2,023,000 after acquiring an additional 3,878 shares during the last quarter. Finally, Semmax Financial Advisors Inc. increased its stake in shares of McKesson by 7.5% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 2,218 shares of the company’s stock worth $424,000 after acquiring an additional 154 shares during the last quarter. 86.16% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on MCK. Deutsche Bank Aktiengesellschaft raised their price objective on McKesson from $237.00 to $261.00 and gave the stock a “buy” rating in a research report on Thursday, August 5th. Credit Suisse Group raised their price objective on McKesson from $222.00 to $224.00 and gave the stock a “neutral” rating in a research report on Monday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Buy” and a consensus price target of $224.13.

In related news, CFO Britt J. Vitalone sold 22,085 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The stock was sold at an average price of $203.75, for a total transaction of $4,499,818.75. Following the completion of the sale, the chief financial officer now owns 14,356 shares in the company, valued at $2,925,035. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 1,467 shares of the business’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $203.84, for a total value of $299,033.28. Following the sale, the chief executive officer now owns 26,106 shares of the company’s stock, valued at approximately $5,321,447.04. The disclosure for this sale can be found here. Insiders sold a total of 37,971 shares of company stock valued at $7,726,342 in the last quarter. Company insiders own 0.28% of the company’s stock.

NYSE MCK opened at $201.10 on Wednesday. The company has a market cap of $31.11 billion, a P/E ratio of -7.11, a P/E/G ratio of 1.33 and a beta of 0.88. The company has a debt-to-equity ratio of 82.70, a current ratio of 0.99 and a quick ratio of 0.53. The stock has a 50-day moving average of $201.17 and a two-hundred day moving average of $195.20. McKesson Co. has a 1-year low of $141.32 and a 1-year high of $210.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 4th. The company reported $5.56 earnings per share for the quarter, beating the consensus estimate of $4.09 by $1.47. The company had revenue of $62.67 billion during the quarter, compared to the consensus estimate of $60.16 billion. McKesson had a positive return on equity of 216.39% and a negative net margin of 1.83%. McKesson’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.77 EPS. On average, analysts anticipate that McKesson Co. will post 20.27 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 1st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Tuesday, August 31st. This is a boost from McKesson’s previous quarterly dividend of $0.42. McKesson’s dividend payout ratio (DPR) is presently 10.92%.

About McKesson

McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions (“RxTS“).

Recommended Story: How can investors benefit from after-hours trading?

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.