427 Shares in McKesson Co. (NYSE:MCK) Acquired by PFG Investments LLC

PFG Investments LLC acquired a new position in McKesson Co. (NYSE:MCK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 427 shares of the company’s stock, valued at approximately $249,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avantax Advisory Services Inc. boosted its position in McKesson by 20.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 1,847 shares of the company’s stock valued at $855,000 after acquiring an additional 308 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of McKesson by 0.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 33,163 shares of the company’s stock valued at $15,354,000 after purchasing an additional 91 shares during the last quarter. Fiera Capital Corp purchased a new stake in shares of McKesson during the 4th quarter valued at $713,000. Navellier & Associates Inc. purchased a new stake in shares of McKesson during the 4th quarter valued at $201,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of McKesson during the 4th quarter valued at $60,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCK. Bank of America raised their target price on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Citigroup reduced their target price on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays increased their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Mizuho increased their price target on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird cut their price target on McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

McKesson Trading Up 1.5 %

MCK stock opened at $518.81 on Friday. McKesson Co. has a 12-month low of $417.65 and a 12-month high of $637.51. The stock has a market cap of $67.28 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.18 and a beta of 0.44. The business’s 50-day moving average is $567.33 and its 200 day moving average is $557.25.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the previous year, the firm posted $7.27 EPS. McKesson’s revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts forecast that McKesson Co. will post 32.11 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.55%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is 12.69%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 11,259 shares of company stock valued at $6,635,492 in the last ninety days. 0.11% of the stock is currently owned by corporate 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.