Legacy Financial Advisors Inc. Has $307,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Legacy Financial Advisors Inc. grew its holdings in McKesson Co. (NYSE:MCK) by 6.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 526 shares of the company’s stock after purchasing an additional 30 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in McKesson were worth $307,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. LRI Investments LLC bought a new stake in McKesson in the first quarter worth $28,000. Register Financial Advisors LLC acquired a new stake in shares of McKesson in the first quarter worth about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of McKesson in the fourth quarter worth about $31,000. Rise Advisors LLC bought a new stake in shares of McKesson during the 1st quarter worth about $40,000. Finally, Carolinas Wealth Consulting LLC increased its holdings in shares of McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 0.0 %

Shares of NYSE:MCK opened at $508.00 on Friday. The firm has a market capitalization of $66.01 billion, a PE ratio of 22.70, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The business’s 50 day moving average is $560.25 and its 200-day moving average is $557.01.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share 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 company earned $7.27 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts predict 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. Investors of record on Monday, September 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a 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 12.69%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total value of $2,180,192.76. Following the sale, the chief executive officer now directly owns 86,092 shares in the company, valued at approximately $50,012,564.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 11,259 shares of company stock worth $6,635,492 over the last quarter. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MCK. Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Leerink Partners reduced their price objective on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Bank of America raised their target price on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Evercore ISI cut their target price 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. Finally, JPMorgan Chase & Co. raised their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $620.93.

About McKesson

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.