Charles Schwab Investment Management Inc. Purchases 4,759 Shares of McKesson Co. (NYSE:MCK)

Charles Schwab Investment Management Inc. grew its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 839,239 shares of the company's stock after buying an additional 4,759 shares during the period. Charles Schwab Investment Management Inc. owned 0.65% of McKesson worth $414,937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock valued at $2,444,175,000 after purchasing an additional 138,685 shares during the last quarter. Legal & General Group Plc raised its position in shares of McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company's stock valued at $757,862,000 after purchasing an additional 36,583 shares during the period. Swedbank AB purchased a new stake in shares of McKesson during the 1st quarter valued at approximately $669,326,000. Boston Partners boosted its holdings in McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company's stock worth $635,763,000 after buying an additional 47,140 shares during the period. Finally, AQR Capital Management LLC grew its stake in McKesson by 7.9% in the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company's stock valued at $500,879,000 after buying an additional 62,875 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

MCK has been the subject of a number of analyst reports. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a report on Monday, October 7th. 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 note on Wednesday, August 21st. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Mizuho raised their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. Finally, Evercore ISI upped their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $631.57.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company's stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.11% of the company's stock.

McKesson Stock Down 0.7 %

Shares of NYSE MCK traded down $4.38 during mid-day trading on Friday, reaching $623.89. 193,114 shares of the company were exchanged, compared to its average volume of 817,182. The stock has a market capitalization of $79.20 billion, a PE ratio of 32.35, a PEG ratio of 1.33 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The company's 50 day moving average price is $528.89 and its 200 day moving average price is $556.74.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts' expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business earned $6.23 EPS. On average, sell-side analysts predict that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is presently 14.71%.

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.