McKesson Co. (NYSE:MCK) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,142 shares of the company's stock after buying an additional 1,106 shares during the period. Thrivent Financial for Lutherans' holdings in McKesson were worth $9,964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. LRI Investments LLC purchased a new stake in McKesson in the 1st quarter valued at $28,000. Wolff Wiese Magana LLC increased its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after purchasing an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the third quarter valued at about $40,000. Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson during the second quarter worth about $52,000. Finally, Centennial Bank AR purchased a new position in shares of McKesson during the second quarter worth about $53,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Mizuho increased their price objective on McKesson from $540.00 to $570.00 and gave the stock a "neutral" rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Evercore ISI lifted their price objective on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Finally, Citigroup boosted their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $631.57.

McKesson Stock Down 0.8 %

Shares of MCK traded down $5.08 during trading hours on Friday, reaching $623.19. 510,419 shares of the company traded hands, compared to its average volume of 818,590. The stock has a market capitalization of $79.11 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The stock has a fifty day simple moving average of $528.89 and a 200 day simple moving average of $556.74. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $6.23 EPS. Research analysts predict that McKesson Co. will post 32.81 EPS for the current fiscal 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 issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.46%. McKesson's dividend payout ratio (DPR) is presently 14.71%.

About McKesson

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.