Virtu Financial LLC Purchases New Holdings in McKesson Co. (NYSE:MCK)

Virtu Financial LLC acquired a new position in McKesson Co. (NYSE:MCK) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 7,135 shares of the company’s stock, valued at approximately $4,167,000.

A number of other institutional investors have also recently bought and sold shares of the business. LRI Investments LLC purchased a new position in shares of McKesson in the 1st quarter worth about $28,000. Register Financial Advisors LLC purchased a new stake in shares of McKesson during the 1st quarter worth approximately $29,000. Sachetta LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. lifted its stake in 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 purchasing an additional 50 shares during the last quarter. Finally, Richardson Financial Services Inc. bought a new position in McKesson during the fourth quarter valued at $31,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

MCK opened at $519.82 on Tuesday. The stock’s 50 day simple moving average is $565.94 and its 200 day simple moving average is $557.75. The firm has a market cap of $67.41 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1 year low of $422.15 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $7.27 EPS. As a group, sell-side 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. Shareholders of record on Monday, September 2nd will be given 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 dividend on an annualized basis and a yield of 0.55%. McKesson’s dividend payout ratio is presently 12.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Mizuho upped their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company cut their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday. Evercore ISI lowered their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America boosted their price objective on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, Robert W. Baird cut their price target on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 11,259 shares of company stock worth $6,635,492. 0.11% of the stock is currently owned by insiders.

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.