AGF Management Ltd. Sells 327 Shares of McKesson Co. (NYSE:MCK)

AGF Management Ltd. lessened its position in shares of McKesson Co. (NYSE:MCK) by 7.5% in the second quarter, HoldingsChannel reports. The fund owned 4,025 shares of the company’s stock after selling 327 shares during the period. AGF Management Ltd.’s holdings in McKesson were worth $2,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MCK. Sachetta LLC bought a new stake in shares of McKesson during the fourth quarter worth approximately $27,000. LRI Investments LLC bought a new stake in shares of McKesson during the first quarter worth approximately $28,000. Register Financial Advisors LLC bought a new stake in shares of McKesson during the first quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in shares of McKesson during the fourth quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of McKesson by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after acquiring an additional 50 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s 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 sale, the chief executive officer now owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MCK. Bank of America boosted their price objective on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 9th. Leerink Partners dropped their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Robert W. Baird dropped their price target on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company dropped their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday. 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, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $620.93.

McKesson Stock Up 1.5 %

Shares of McKesson stock opened at $518.81 on Friday. McKesson Co. has a twelve month low of $417.65 and a twelve month high of $637.51. The stock has a market cap of $67.28 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 1.18 and a beta of 0.44. The company’s fifty day moving average is $567.33 and its 200 day moving average is $557.25.

McKesson (NYSE:MCK) last issued 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 for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.27 earnings per share. As a group, equities analysts anticipate that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.55%. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is 12.69%.

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.