Victory Capital Management Inc. Has $128.25 Million Position in McKesson Co. (NYSE:MCK)

Victory Capital Management Inc. increased its position in McKesson Co. (NYSE:MCK - Free Report) by 82.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 259,397 shares of the company's stock after acquiring an additional 116,944 shares during the period. Victory Capital Management Inc. owned approximately 0.20% of McKesson worth $128,251,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC bought a new stake in shares of McKesson during the first quarter valued at approximately $28,000. Wolff Wiese Magana LLC raised its stake in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in McKesson during the 3rd quarter worth $40,000. Carmichael Hill & Associates Inc. bought a new position in shares of McKesson in the second quarter worth $52,000. Finally, Centennial Bank AR acquired a new position in shares of McKesson during the second quarter valued at $53,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

NYSE MCK traded up $6.95 on Wednesday, hitting $624.61. 636,008 shares of the stock were exchanged, compared to its average volume of 824,294. The company's 50-day moving average price is $515.00 and its two-hundred day moving average price is $552.91. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The company has a market capitalization of $79.29 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 1.33 and a beta of 0.44.

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

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm's stock in a transaction on Thursday, September 5th. The shares were 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MCK shares. Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. 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 note on Thursday, August 8th. Citigroup upped their target price on McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a research report on Wednesday. Leerink Partners decreased their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Finally, Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus price target of $631.57.

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.