Hanlon Investment Management Inc. Has $826,000 Stock Position in McKesson Co. (NYSE:MCK)

Hanlon Investment Management Inc. boosted its holdings in McKesson Co. (NYSE:MCK) by 10.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,414 shares of the company’s stock after buying an additional 136 shares during the period. Hanlon Investment Management Inc.’s holdings in McKesson were worth $826,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. LRI Investments LLC bought a new position in McKesson during the first quarter worth $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson during the 1st quarter worth about $29,000. Sachetta LLC acquired a new position in shares of McKesson during the fourth quarter valued at about $27,000. Newbridge Financial Services Group Inc. lifted its stake in shares of McKesson by 333.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after buying an additional 50 shares during the period. Finally, Richardson Financial Services Inc. acquired a new stake in McKesson during the fourth quarter worth about $31,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares in the company, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,859 shares of company stock valued at $6,986,810. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on MCK shares. JPMorgan Chase & Co. raised their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Mizuho increased their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Argus lifted their target price on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Citigroup increased their price target on shares of McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $624.93.

McKesson Trading Down 2.1 %

NYSE:MCK opened at $504.17 on Friday. The stock has a market capitalization of $65.51 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44. McKesson Co. has a 1 year low of $412.64 and a 1 year high of $637.51. The firm has a 50 day moving average of $574.75 and a 200-day moving average of $557.29.

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 the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.27 EPS. As a group, analysts forecast that McKesson Co. will post 32.14 EPS for the current fiscal year.

McKesson Increases Dividend

The business 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 represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date is Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

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.