Hennion & Walsh Asset Management Inc. bought a new stake in McKesson Co. (NYSE:MCK – Get Rating) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,777 shares of the company's stock, valued at approximately $1,232,000.
Other large investors have also recently modified their holdings of the company. Cornerstone Advisory LLC acquired a new stake in shares of McKesson in the 4th quarter valued at $25,000. Covestor Ltd boosted its holdings in shares of McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company's stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of McKesson in the 1st quarter valued at $28,000. Core Alternative Capital boosted its holdings in shares of McKesson by 1,257.1% in the 1st quarter. Core Alternative Capital now owns 95 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares in the last quarter. Finally, Lansing Street Advisors acquired a new stake in shares of McKesson in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 86.43% of the company's stock.
Get McKesson alerts:McKesson Stock Down 0.6 %
Shares of NYSE:MCK opened at $339.87 on Friday. The business has a fifty day simple moving average of $353.53 and a 200 day simple moving average of $330.79. McKesson Co. has a 12-month low of $193.89 and a 12-month high of $375.23. The firm has a market cap of $48.85 billion, a P/E ratio of 35.93, a P/E/G ratio of 1.42 and a beta of 0.59.
McKesson (NYSE:MCK – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $5.83 earnings per share for the quarter, topping the consensus estimate of $5.31 by $0.52. McKesson had a negative return on equity of 350.22% and a net margin of 0.52%. The firm had revenue of $67.15 billion during the quarter, compared to analyst estimates of $63.87 billion. As a group, equities research analysts expect that McKesson Co. will post 24.42 EPS for the current year.McKesson Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, August 31st. This is a positive change from McKesson's previous quarterly dividend of $0.47. This represents a $2.16 annualized dividend and a dividend yield of 0.64%. McKesson's dividend payout ratio (DPR) is 22.83%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on MCK. Morgan Stanley increased their price target on McKesson from $370.00 to $403.00 and gave the company an "overweight" rating in a research note on Monday, August 22nd. Deutsche Bank Aktiengesellschaft increased their price target on McKesson from $378.00 to $409.00 in a research note on Monday, August 8th. Cowen increased their price target on McKesson to $384.00 in a research note on Tuesday, August 9th. UBS Group increased their price target on McKesson from $380.00 to $400.00 and gave the company a "buy" rating in a research note on Thursday, August 4th. Finally, Credit Suisse Group increased their price target on McKesson from $377.00 to $385.00 and gave the company an "outperform" rating in a research note on Monday, August 8th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $352.46.
Insider Transactions at McKesson
In other news, EVP Lori A. Schechter sold 7,500 shares of McKesson stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $343.94, for a total value of $2,579,550.00. Following the completion of the transaction, the executive vice president now directly owns 11,678 shares of the company's stock, valued at approximately $4,016,531.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Thomas L. Rodgers sold 1,300 shares of the firm's stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $367.21, for a total value of $477,373.00. Following the completion of the sale, the executive vice president now directly owns 2,544 shares in the company, valued at approximately $934,182.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lori A. Schechter sold 7,500 shares of the firm's stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $343.94, for a total value of $2,579,550.00. Following the completion of the sale, the executive vice president now owns 11,678 shares of the company's stock, valued at $4,016,531.32. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.
McKesson Profile
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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.
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