Beck Capital Management LLC Boosts Stock Holdings in McKesson Co. (NYSE:MCK)

Beck Capital Management LLC grew its holdings in McKesson Co. (NYSE:MCK) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,846 shares of the company’s stock after purchasing an additional 73 shares during the period. McKesson makes up about 1.1% of Beck Capital Management LLC’s holdings, making the stock its 29th biggest position. Beck Capital Management LLC’s holdings in McKesson were worth $3,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. LRI Investments LLC purchased a new position in McKesson during the 1st quarter valued at about $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson in the first quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new position in McKesson during the fourth quarter valued at approximately $31,000. Carolinas Wealth Consulting LLC increased its holdings in McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after acquiring an additional 24 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new stake in McKesson in the 4th quarter worth approximately $40,000. 85.07% of the stock is owned by institutional investors.

McKesson Trading Down 0.0 %

Shares of NYSE:MCK opened at $508.00 on Monday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The stock’s 50-day moving average price is $560.25 and its 200-day moving average price is $557.24. The stock has a market capitalization of $66.01 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating 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 firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the previous year, the company posted $7.27 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. As a group, research analysts predict that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. McKesson’s payout ratio is presently 12.69%.

Insider Activity

In related news, 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 transaction, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 11,259 shares of company stock valued at $6,635,492. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several research analyst reports. Mizuho upped their price target on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Leerink Partners decreased their target price on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Evercore ISI dropped their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company decreased their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, Citigroup dropped their target price on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $620.93.

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.