ORG Partners LLC Purchases 100 Shares of McKesson Co. (NYSE:MCK)

ORG Partners LLC boosted its stake in McKesson Co. (NYSE:MCK) by 36.9% during the 2nd quarter, Holdings Channel reports. The firm owned 371 shares of the company’s stock after buying an additional 100 shares during the quarter. ORG Partners LLC’s holdings in McKesson were worth $218,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Sachetta LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $27,000. LRI Investments LLC acquired a new stake in shares of McKesson in the first quarter valued at about $28,000. Register Financial Advisors LLC purchased a new position in shares of McKesson in the first quarter worth about $29,000. Richardson Financial Services Inc. purchased a new position in shares of McKesson in the fourth quarter worth about $31,000. Finally, Newbridge Financial Services Group Inc. raised its stake in McKesson by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.2 %

NYSE MCK traded up $1.08 on Wednesday, hitting $552.83. 774,039 shares of the stock were exchanged, compared to its average volume of 740,537. McKesson Co. has a fifty-two week low of $404.72 and a fifty-two week high of $637.51. The company has a market cap of $71.83 billion, a PE ratio of 24.65, a PEG ratio of 1.46 and a beta of 0.45. The company has a 50-day moving average price of $590.56 and a 200-day moving average price of $551.96.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.27 earnings per share. As a group, equities research analysts predict that McKesson Co. will post 31.68 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.51%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is currently 12.69%.

Insider Buying and Selling

In other news, CFO Britt J. Vitalone sold 12,752 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $7,116,763.68. Following the transaction, the chief financial officer now owns 14,028 shares in the company, valued at approximately $7,828,886.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Britt J. Vitalone sold 12,752 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $7,116,763.68. Following the completion of the transaction, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the transaction, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The disclosure for this sale can be found here. Insiders sold 32,713 shares of company stock valued at $18,702,605 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MCK has been the topic of a number of analyst reports. Bank of America lifted their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. UBS Group lifted their target price on shares of McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Evercore ISI reduced their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Argus boosted their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Barclays boosted their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $609.79.

McKesson Company 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.