Americana Partners LLC Makes New $211,000 Investment in McKesson Co. (NYSE:MCK)

Americana Partners LLC bought a new position in shares of McKesson Co. (NYSE:MCK) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 361 shares of the company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Mather Group LLC. lifted its stake in McKesson by 5.5% during the fourth quarter. Mather Group LLC. now owns 673 shares of the company’s stock worth $312,000 after purchasing an additional 35 shares during the last quarter. Intrust Bank NA bought a new stake in McKesson during the fourth quarter worth $206,000. Kestra Private Wealth Services LLC lifted its stake in McKesson by 8.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 2,228 shares of the company’s stock worth $1,032,000 after purchasing an additional 170 shares during the last quarter. Victory Capital Management Inc. lifted its stake in McKesson by 3.3% during the fourth quarter. Victory Capital Management Inc. now owns 210,235 shares of the company’s stock worth $97,335,000 after purchasing an additional 6,649 shares during the last quarter. Finally, Triumph Capital Management acquired a new position in shares of McKesson during the fourth quarter worth $207,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 1.0 %

NYSE MCK traded up $5.63 during trading hours on Friday, hitting $561.08. The company’s stock had a trading volume of 954,189 shares, compared to its average volume of 740,009. The company has a market capitalization of $72.90 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.46 and a beta of 0.45. McKesson Co. has a 52 week low of $404.72 and a 52 week high of $637.51. The company’s 50-day simple moving average is $580.03 and its two-hundred day simple moving average is $555.96.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend 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 (DPR) is presently 12.69%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares in the company, valued at approximately $51,607,866.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Wednesday, June 5th. The shares were 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 in the company, valued at approximately $51,607,866.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 600 shares of McKesson stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The disclosure for this sale can be found here. Insiders sold a total of 12,342 shares of company stock worth $7,319,742 in the last quarter. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company upped their price target on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. TD Cowen upped their price target on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Barclays upped their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $620.29.

About McKesson

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.