Consolidated Portfolio Review Corp Makes New Investment in McKesson Co. (NYSE:MCK)

Consolidated Portfolio Review Corp bought a new position in McKesson Co. (NYSE:MCK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 503 shares of the company’s stock, valued at approximately $294,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sachetta LLC purchased a new stake in shares of McKesson in the fourth quarter worth approximately $27,000. LRI Investments LLC bought a new stake in shares of McKesson during the first quarter worth $28,000. Register Financial Advisors LLC purchased a new stake in shares of McKesson during the first quarter valued at $29,000. Richardson Financial Services Inc. bought a new position in shares of McKesson in the fourth quarter worth about $31,000. Finally, Newbridge Financial Services Group Inc. increased its stake in McKesson by 333.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after buying an additional 50 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.9 %

MCK opened at $561.08 on Monday. The company has a market cap of $72.76 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.29 and a beta of 0.45. The firm’s 50-day moving average price is $580.03 and its 200-day moving average price is $556.70. McKesson Co. has a 52-week low of $404.72 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (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 business had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter last year, the company posted $7.27 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. On average, research analysts anticipate that McKesson Co. will post 32.14 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a $0.71 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.51%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is currently 11.08%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction 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 owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 transaction of $2,349,490.59. Following the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction that occurred on 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 owns 2,022 shares in the company, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,342 shares of company stock valued at $7,319,742. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MCK shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. increased their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI decreased their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company increased their target price 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. Finally, Citigroup upped their price target on shares of McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $620.29.

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.