Menard Financial Group LLC Buys New Holdings in McKesson Co. (NYSE:MCK)

Menard Financial Group LLC bought a new stake in McKesson Co. (NYSE:MCK) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 479 shares of the company’s stock, valued at approximately $280,000.

A number of other large investors have also recently bought and sold shares of MCK. RFP Financial Group LLC lifted its stake in McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after acquiring an additional 17 shares in the last quarter. Modera Wealth Management LLC lifted its stake in McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after acquiring an additional 17 shares in the last quarter. Larson Financial Group LLC lifted its stake in McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after acquiring an additional 17 shares in the last quarter. First Western Trust Bank lifted its stake in McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after acquiring an additional 18 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in McKesson by 1.7% during the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock worth $608,000 after acquiring an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $44,094,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 11,259 shares of company stock worth $6,635,492 in the last quarter. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MCK shares. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Barclays increased their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Citigroup reduced their price target on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Bank of America increased their price target on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Leerink Partners reduced their price target on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

McKesson Stock Performance

Shares of NYSE MCK opened at $518.81 on Monday. McKesson Co. has a fifty-two week low of $417.65 and a fifty-two week high of $637.51. The firm has a market capitalization of $67.28 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The stock’s 50-day simple moving average is $567.33 and its 200-day simple moving average is $557.76.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion for 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 firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.27 EPS. On average, sell-side analysts forecast that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared 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 represents a $2.84 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is currently 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.