407 Shares in McKesson Co. (NYSE:MCK) Bought by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL acquired a new stake in shares of McKesson Co. (NYSE:MCK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 407 shares of the company’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sachetta LLC bought a new position in McKesson during the 4th quarter valued at about $27,000. LRI Investments LLC bought a new position in shares of McKesson during the first quarter valued at approximately $28,000. Register Financial Advisors LLC purchased a new stake in shares of McKesson in the first quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in shares of McKesson during the 4th quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. grew its position in 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 acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on MCK shares. Barclays lifted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Evercore ISI lowered their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Citigroup reduced their target price on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday. Bank of America boosted their price target on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Argus raised their price objective on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $622.07.

McKesson Price Performance

Shares of MCK stock opened at $510.45 on Thursday. The company has a market cap of $66.20 billion, a P/E ratio of 22.81, a PEG ratio of 1.16 and a beta of 0.44. The stock’s 50-day moving average is $570.15 and its 200 day moving average is $557.58. McKesson Co. has a 1-year low of $417.65 and a 1-year high of $637.51.

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, 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 firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the previous year, the firm earned $7.27 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that McKesson Co. will post 32.14 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is currently 12.69%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 11,259 shares of company stock worth $6,635,492 in the last ninety days. 0.11% of the stock is owned by insiders.

McKesson Company 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.