D.A. Davidson & CO. Has $3.38 Million Stock Position in McKesson Co. (NYSE:MCK)

D.A. Davidson & CO. raised its position in shares of McKesson Co. (NYSE:MCK) by 7.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 5,787 shares of the company’s stock after purchasing an additional 399 shares during the quarter. D.A. Davidson & CO.’s holdings in McKesson were worth $3,380,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sachetta LLC acquired a new stake in shares of McKesson during the fourth quarter worth $27,000. LRI Investments LLC acquired a new stake in McKesson during the 1st quarter worth about $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson in the 1st quarter worth about $29,000. Richardson Financial Services Inc. bought a new position in shares of McKesson in the 4th quarter worth about $31,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of McKesson by 333.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 2.3 %

Shares of McKesson stock opened at $573.95 on Wednesday. McKesson Co. has a 52 week low of $404.72 and a 52 week high of $637.51. The business has a 50 day moving average price of $578.48 and a 200-day moving average price of $557.54. The company has a market cap of $74.43 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.29 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.27 EPS. As a group, research analysts anticipate that McKesson Co. will post 32.14 EPS for the current year.

McKesson Increases Dividend

The company also recently declared 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 is Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.49%. McKesson’s payout ratio is 11.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MCK shares. UBS Group lifted their target price on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. 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 research note on Thursday, May 9th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Robert W. Baird cut their price objective on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.29.

Insiders Place Their Bets

In other news, Director Maria Martinez sold 483 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $585.88, for a total value of $282,980.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Maria Martinez sold 483 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,753 shares of the business’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 completion of the transaction, the chief executive officer now directly 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 ninety days, insiders sold 8,589 shares of company stock valued at $5,163,981. Corporate insiders own 0.11% of the company’s stock.

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.