Kornitzer Capital Management Inc. KS Has $8.37 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Kornitzer Capital Management Inc. KS lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 0.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,325 shares of the company’s stock after buying an additional 25 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in McKesson were worth $8,366,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in shares of McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after buying an additional 46,659 shares in the last quarter. Norges Bank acquired a new stake in shares of McKesson during the fourth quarter valued at about $1,024,140,000. Putnam Investments LLC grew its holdings in shares of McKesson by 3.2% during the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after purchasing an additional 62,242 shares during the last quarter. Swedbank AB acquired a new position in shares of McKesson in the first quarter valued at approximately $669,326,000. Finally, Boston Partners raised its holdings in McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after buying an additional 47,140 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

MCK opened at $514.75 on Friday. The firm has a market capitalization of $66.88 billion, a PE ratio of 23.00, a P/E/G ratio of 1.29 and a beta of 0.44. McKesson Co. has a fifty-two week low of $405.50 and a fifty-two week high of $637.51. The company’s 50-day moving average is $576.35 and its 200 day moving average is $557.33.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $7.27 earnings per share. As a group, analysts expect that McKesson Co. will post 32.14 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 given a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent research reports. Leerink Partners decreased their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research report on Thursday. Argus raised their target price on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Wells Fargo & Company upped their price target on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. Citigroup increased their price target on McKesson from $620.00 to $670.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Barclays lifted their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $624.93.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Monday, August 5th. The shares were 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 of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction 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 sale, the chief executive officer now directly owns 82,339 shares in the company, valued at $51,546,684.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,106 shares of company stock worth $4,881,001. 0.11% of the stock is owned by insiders.

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.