DE Burlo Group Inc. Increases Holdings in McKesson Co. (NYSE:MCK)

DE Burlo Group Inc. increased its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 43.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,135 shares of the company's stock after buying an additional 8,835 shares during the period. McKesson comprises about 2.3% of DE Burlo Group Inc.'s portfolio, making the stock its 18th biggest position. DE Burlo Group Inc.'s holdings in McKesson were worth $17,016,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Distillate Capital Partners LLC raised its holdings in shares of McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock valued at $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Wealthspire Advisors LLC raised its stake in McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company's stock valued at $948,000 after buying an additional 133 shares in the last quarter. Councilmark Asset Management LLC purchased a new stake in McKesson during the 1st quarter worth about $5,160,000. Vaughan David Investments LLC IL acquired a new position in shares of McKesson during the 2nd quarter worth about $238,000. Finally, Treasurer of the State of North Carolina boosted its position in shares of McKesson by 6.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 65,266 shares of the company's stock worth $30,217,000 after acquiring an additional 3,982 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Performance

McKesson stock traded down $0.09 during mid-day trading on Thursday, reaching $479.05. 1,161,781 shares of the company were exchanged, compared to its average volume of 800,293. The firm's 50-day simple moving average is $554.66 and its two-hundred day simple moving average is $556.20. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The firm has a market cap of $62.12 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company's revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the company earned $7.27 earnings per share. As a group, equities research analysts anticipate that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a dividend of $0.71 per share. This is a boost from McKesson's previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Friday, August 30th. McKesson's dividend payout ratio is currently 12.69%.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent analyst reports. Mizuho boosted their target price on McKesson from $540.00 to $570.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. Robert W. Baird restated a "neutral" rating and set a $531.00 price objective (down previously from $603.00) on shares of McKesson in a research report on Tuesday. Argus increased their target price on shares of McKesson from $570.00 to $670.00 and gave the company a "buy" rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $613.36.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 11,259 shares of company stock worth $6,635,492 over the last 90 days. Company insiders own 0.11% of the company's stock.

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.