Crossmark Global Holdings Inc. Grows Holdings in McKesson Co. (NYSE:MCK)

Crossmark Global Holdings Inc. lifted its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 69.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,353 shares of the company's stock after acquiring an additional 14,044 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in McKesson were worth $16,985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MCK. JPMorgan Chase & Co. raised its position in McKesson by 1.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company's stock valued at $2,342,190,000 after purchasing an additional 46,659 shares in the last quarter. Legal & General Group Plc raised its holdings 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 acquiring an additional 36,583 shares in the last quarter. Swedbank AB purchased a new stake in McKesson in the first quarter worth about $669,326,000. Boston Partners grew its holdings 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 acquiring an additional 47,140 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in McKesson by 7.9% during the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company's stock valued at $500,879,000 after purchasing an additional 62,875 shares during the period. Institutional investors own 85.07% of the company's stock.

McKesson Trading Up 0.9 %

Shares of NYSE:MCK traded up $5.49 on Friday, hitting $613.00. 1,270,690 shares of the company were exchanged, compared to its average volume of 846,233. The firm has a market capitalization of $79.49 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The stock's 50 day moving average price is $513.03 and its 200 day moving average price is $551.74.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 243.82% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the company posted $6.23 earnings per share. The company's revenue was up 21.3% compared to the same quarter last year. On average, equities analysts predict that McKesson Co. will post 31.92 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MCK shares. Mizuho boosted their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. Citigroup cut their price target on McKesson from $670.00 to $630.00 and set a "buy" rating on the stock in a report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $531.00 to $688.00 in a report on Thursday. Finally, StockNews.com upgraded shares of McKesson from a "hold" rating to a "buy" rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $625.64.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson 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 completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.11% of the stock is owned by corporate insiders.

McKesson Company 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.