Roman Butler Fullerton & Co. purchased a new stake in shares of McKesson Co. (NYSE:MCK – Free Report) 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
McKesson (NYSE:MCK – Get Free Report) 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.
Get Our Latest Research Report on McKesson
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.
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