Bard Financial Services Inc. Takes $201,000 Position in McKesson Co. (NYSE:MCK)

Bard Financial Services Inc. purchased a new position in shares of McKesson Co. (NYSE:MCK) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 375 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MCK. Sachetta LLC purchased a new position in McKesson during the fourth quarter worth about $27,000. Register Financial Advisors LLC purchased a new position in McKesson during the first quarter worth about $29,000. BKM Wealth Management LLC purchased a new position in McKesson during the fourth quarter worth about $31,000. Richardson Financial Services Inc. purchased a new position in McKesson during the fourth quarter worth about $31,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings 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 last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Up 0.3 %

Shares of MCK traded up $1.84 during midday trading on Friday, reaching $577.07. The stock had a trading volume of 84,821 shares, compared to its average volume of 698,867. The company’s 50-day moving average is $574.91 and its 200 day moving average is $533.02. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $612.17. The company has a market capitalization of $74.98 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the previous year, the company posted $7.19 earnings per share. McKesson’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts forecast that McKesson Co. will post 31.53 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total value of $2,180,192.76. Following the completion of the transaction, the chief executive officer now owns 86,092 shares of the company’s stock, valued at approximately $50,012,564.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McKesson news, Director Maria Martinez sold 483 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total value of $2,180,192.76. Following the sale, the chief executive officer now owns 86,092 shares in the company, valued at $50,012,564.64. The disclosure for this sale can be found here. Insiders sold 29,567 shares of company stock valued at $16,691,841 in the last 90 days. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of McKesson from $600.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday. Robert W. Baird boosted their target price on shares of McKesson from $679.00 to $694.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup boosted their target price on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Wells Fargo & Company boosted their target price on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $596.00.

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.