Gateway Advisory LLC Buys 93 Shares of McKesson Co. (NYSE:MCK)

Gateway Advisory LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,301 shares of the company’s stock after buying an additional 93 shares during the quarter. Gateway Advisory LLC’s holdings in McKesson were worth $760,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. RFP Financial Group LLC lifted its holdings in shares of McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after acquiring an additional 17 shares during the period. Modera Wealth Management LLC lifted its holdings in McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after purchasing an additional 17 shares during the last quarter. Larson Financial Group LLC boosted its position in McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after buying an additional 17 shares in the last quarter. First Western Trust Bank increased its holdings in shares of McKesson by 2.0% during the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after buying an additional 18 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of McKesson by 1.7% during the first quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock worth $608,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of research analyst reports. Barclays increased their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Robert W. Baird lowered their target price on McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 9th. Mizuho boosted their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Evercore ISI reduced their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

McKesson Trading Down 0.6 %

Shares of MCK opened at $505.00 on Tuesday. The stock has a market cap of $65.62 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The stock’s 50-day moving average price is $558.79 and its two-hundred day moving average price is $557.07. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion during 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 revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.27 earnings per share. As a group, equities analysts forecast that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 11,259 shares of company stock worth $6,635,492 over the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

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.