Roman Butler Fullerton & Co. Buys New Shares in McKesson Co. (NYSE:MCK)

Roman Butler Fullerton & Co. purchased a new stake in shares of McKesson Co. (NYSE:MCK) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 464 shares of the company’s stock, valued at approximately $272,000.

Several other large investors have also recently added to or reduced their stakes in the company. Sachetta LLC bought a new position in McKesson during the 4th quarter valued at about $27,000. LRI Investments LLC acquired a new position in shares of McKesson in the 1st quarter worth approximately $28,000. Register Financial Advisors LLC bought a new stake in McKesson during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in McKesson during the 4th quarter valued at $31,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in McKesson by 333.3% in 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 in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 12,752 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the completion of the transaction, the chief financial officer now owns 14,028 shares of the company’s stock, valued at approximately $7,828,886.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Britt J. Vitalone sold 12,752 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the completion of the transaction, the chief financial officer now owns 14,028 shares in the company, valued at $7,828,886.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction 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 completion of the sale, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,713 shares of company stock valued at $18,702,605. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

MCK stock traded up $0.75 during midday trading on Tuesday, hitting $551.75. 983,402 shares of the company’s stock were exchanged, compared to its average volume of 740,321. McKesson Co. has a one year low of $404.72 and a one year high of $637.51. The stock’s fifty day moving average price is $591.00 and its 200-day moving average price is $551.49. The company has a market cap of $71.69 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.46 and a beta of 0.45.

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

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.51%. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Robert W. Baird reduced their price objective on McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America lifted their target price on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. UBS Group upped their price target on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Citigroup boosted their price objective on McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a report on Friday, July 19th. 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $609.79.

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.