McKesson Co. (NYSE:MCK) Holdings Lifted by Simon Quick Advisors LLC

Simon Quick Advisors LLC increased its holdings in McKesson Co. (NYSE:MCK) by 32.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 561 shares of the company’s stock after acquiring an additional 136 shares during the period. Simon Quick Advisors LLC’s holdings in McKesson were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Sachetta LLC purchased a new stake in shares of McKesson in the fourth quarter worth approximately $27,000. LRI Investments LLC acquired a new position in McKesson in the first quarter worth approximately $28,000. Register Financial Advisors LLC acquired a new stake in McKesson in the first quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in McKesson in the fourth quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of McKesson by 333.3% during the 1st 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 last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

MCK opened at $571.28 on Thursday. The firm has a 50 day simple moving average of $577.92 and a 200 day simple moving average of $557.63. 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 $74.23 billion, a price-to-earnings ratio of 25.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44.

McKesson (NYSE:MCK) last released its 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. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter in the previous year, the business earned $7.27 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, analysts expect that McKesson Co. will post 32.14 EPS for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.50%. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is 12.69%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MCK shares. Citigroup increased their price objective on McKesson from $620.00 to $670.00 and gave the company a “buy” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Barclays upped their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Bank of America boosted their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $620.29.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the sale, the chief executive officer now directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, EVP Leann B. Smith sold 600 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the sale, the executive vice president now directly owns 2,022 shares in the company, valued at $1,183,941.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the sale, the chief executive officer now directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,589 shares of company stock worth $5,163,981. 0.11% of the stock is currently owned by company 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.