McKesson (NYSE:MCK) Receives Neutral Rating from Robert W. Baird

Robert W. Baird restated their neutral rating on shares of McKesson (NYSE:MCK) in a report published on Tuesday morning, MarketBeat.com reports. Robert W. Baird currently has a $531.00 target price on the stock, down from their previous target price of $603.00.

A number of other research firms have also commented on MCK. JPMorgan Chase & Co. boosted their price objective on McKesson from $656.00 to $661.00 and gave the stock an overweight rating in a research note on Wednesday, August 21st. Argus increased their price objective on shares of McKesson from $570.00 to $670.00 and gave the stock a buy rating in a report on Monday, June 24th. 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 note on Tuesday, September 10th. Bank of America raised 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, Barclays boosted their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of Moderate Buy and an average price target of $610.93.

McKesson Price Performance

Shares of MCK stock opened at $480.49 on Tuesday. The stock’s fifty day simple moving average is $556.72 and its 200 day simple moving average is $556.74. McKesson has a one year low of $431.35 and a one year high of $637.51. The firm has a market cap of $62.43 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the prior year, the firm earned $7.27 earnings per share. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, research analysts anticipate that McKesson will post 32.11 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.59%. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Monday, August 5th. The shares were 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 directly owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 11,259 shares of company stock worth $6,635,492. 0.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McKesson

A number of hedge funds have recently modified their holdings of the business. Congress Wealth Management LLC DE raised its holdings in McKesson by 1.8% during the 4th quarter. Congress Wealth Management LLC DE now owns 2,448 shares of the company’s stock worth $1,134,000 after buying an additional 43 shares during the period. Nations Financial Group Inc. IA ADV bought a new stake in McKesson in the 4th quarter valued at $356,000. Hilltop Holdings Inc. boosted its stake in McKesson by 27.1% in the 4th quarter. Hilltop Holdings Inc. now owns 920 shares of the company’s stock worth $426,000 after purchasing an additional 196 shares during the period. Douglass Winthrop Advisors LLC increased its holdings in McKesson by 1.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after purchasing an additional 21 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of McKesson by 30.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,670 shares of the company’s stock valued at $773,000 after purchasing an additional 386 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.