Semmax Financial Advisors Inc. Grows Stock Position in McKesson Co. (NYSE:MCK)

Semmax Financial Advisors Inc. increased its stake in shares of McKesson Co. (NYSE:MCK) by 7.6% during the 2nd quarter, Holdings Channel reports. The fund owned 1,505 shares of the company’s stock after purchasing an additional 106 shares during the quarter. Semmax Financial Advisors Inc.’s holdings in McKesson were worth $830,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Distillate Capital Partners LLC grew its stake in shares of McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after purchasing an additional 35,712 shares during the period. Xponance Inc. grew its position in shares of McKesson by 15.6% in the second quarter. Xponance Inc. now owns 26,637 shares of the company’s stock valued at $15,557,000 after purchasing an additional 3,600 shares during the period. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of McKesson during the second quarter worth about $5,256,000. Integral Health Asset Management LLC acquired a new position in shares of McKesson during the 2nd quarter worth about $11,681,000. Finally, Public Sector Pension Investment Board raised its position in shares of McKesson by 76.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 4,778 shares of the company’s stock worth $2,791,000 after purchasing an additional 2,064 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

MCK opened at $505.00 on Tuesday. The business’s 50 day moving average price is $558.79 and its 200 day moving average price is $557.07. The stock has a market capitalization of $65.62 billion, a PE ratio of 22.56, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last released 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. The business had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $7.27 EPS. As a group, equities research analysts forecast that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be issued a $0.71 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio is currently 12.69%.

Wall Street Analyst Weigh In

MCK has been the subject of several research reports. Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Citigroup dropped their price target on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Argus raised their price objective on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Mizuho upped their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Evercore ISI decreased their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $620.93.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value 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 filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 11,259 shares of company stock valued at $6,635,492. Company insiders own 0.11% of the company’s stock.

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.