Key Financial Inc Has $217,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Key Financial Inc lifted its stake in shares of McKesson Co. (NYSE:MCK) by 94.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 372 shares of the company’s stock after purchasing an additional 181 shares during the period. Key Financial Inc’s holdings in McKesson were worth $217,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MCK. JPMorgan Chase & Co. raised its position in McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after buying an additional 46,659 shares during the period. Norges Bank acquired a new position in McKesson during the fourth quarter valued at $1,024,140,000. Putnam Investments LLC raised its position in McKesson by 3.2% during the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after buying an additional 62,242 shares during the period. Swedbank AB acquired a new position in McKesson during the first quarter valued at $669,326,000. Finally, Boston Partners raised its position in McKesson by 4.1% during the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after buying an additional 47,140 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the topic of several research reports. Wells Fargo & Company upped their target price on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Argus upped their target price on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. UBS Group upped their target price on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. upped their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Robert W. Baird decreased their price target on McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $620.29.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the transaction, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the sale, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maria Martinez sold 483 shares of McKesson stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,342 shares of company stock valued at $7,319,742. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 1.0 %

Shares of MCK stock opened at $561.08 on Friday. The stock has a 50 day moving average of $580.87 and a two-hundred day moving average of $555.49. McKesson Co. has a 12 month low of $404.72 and a 12 month high of $637.51. The company has a market capitalization of $72.90 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.46 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter last year, the company earned $7.27 EPS. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that McKesson Co. will post 31.68 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.51%. McKesson’s dividend payout ratio 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.