Haverford Financial Services Inc. Sells 56 Shares of McKesson Co. (NYSE:MCK)

Haverford Financial Services Inc. cut its holdings in McKesson Co. (NYSE:MCK) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,384 shares of the company’s stock after selling 56 shares during the period. McKesson comprises 2.5% of Haverford Financial Services Inc.’s holdings, making the stock its 19th largest holding. Haverford Financial Services Inc.’s holdings in McKesson were worth $8,401,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wealthspire Advisors LLC increased its holdings in shares of McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after buying an additional 133 shares during the last quarter. Councilmark Asset Management LLC bought a new stake in shares of McKesson in the 1st quarter worth about $5,160,000. Vaughan David Investments LLC IL bought a new position in McKesson during the 2nd quarter valued at about $238,000. Treasurer of the State of North Carolina grew its holdings in McKesson by 6.5% during the 4th quarter. Treasurer of the State of North Carolina now owns 65,266 shares of the company’s stock valued at $30,217,000 after purchasing an additional 3,982 shares during the last quarter. Finally, BDF Gestion bought a new position in McKesson during the 2nd quarter valued at about $3,504,000. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MCK. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Mizuho upped their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Evercore ISI cut their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America upped their price target on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Leerink Partners cut their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 11,259 shares of company stock valued at $6,635,492 over the last 90 days. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $511.62 on Thursday. The company has a 50 day moving average price of $562.98 and a 200-day moving average price of $557.34. McKesson Co. has a fifty-two week low of $428.50 and a fifty-two week high of $637.51. The stock has a market capitalization of $66.48 billion, a PE ratio of 22.86, a PEG ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter in the prior year, the company earned $7.27 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a $0.71 dividend. 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 boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is presently 12.69%.

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.