Menard Financial Group LLC Takes $280,000 Position in McKesson Co. (NYSE:MCK)

Menard Financial Group LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 479 shares of the company’s stock, valued at approximately $280,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Councilmark Asset Management LLC purchased a new stake in McKesson in the 1st quarter worth approximately $5,160,000. Vaughan David Investments LLC IL purchased a new stake in McKesson in the 2nd quarter worth approximately $238,000. Treasurer of the State of North Carolina increased its holdings in McKesson by 6.5% in the 4th quarter. Treasurer of the State of North Carolina now owns 65,266 shares of the company’s stock worth $30,217,000 after acquiring an additional 3,982 shares in the last quarter. BDF Gestion purchased a new stake in McKesson in the 2nd quarter worth approximately $3,504,000. Finally, Bornite Capital Management LP purchased a new stake in McKesson in the 4th quarter worth approximately $34,724,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s 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 sale, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 11,259 shares of company stock worth $6,635,492. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MCK. Bank of America increased their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Evercore ISI dropped their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Barclays upped their price target 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 note on Tuesday, September 10th. Finally, Leerink Partners dropped their price target on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Two 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 presently has an average rating of “Moderate Buy” and a consensus target price of $620.93.

McKesson Price Performance

Shares of MCK stock opened at $518.81 on Monday. McKesson Co. has a 1-year low of $417.65 and a 1-year high of $637.51. The stock’s 50-day moving average is $567.33 and its 200 day moving average is $557.76. The company has a market cap of $67.28 billion, a P/E ratio of 23.18, a PEG 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, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter last year, the company earned $7.27 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts anticipate that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders 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 of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.55%. McKesson’s payout ratio is presently 12.69%.

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.