Consolidated Portfolio Review Corp makes a new investment in McKesson Co. (NYSE:MCK)

Consolidated Portfolio Review Corp bought a new position in McKesson Co. (NYSE:MCK – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 503 shares of the company’s stock, valued at approximately $294,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sachetta LLC acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $27,000. LRI Investments LLC bought a new stake in shares of McKesson in the 1st quarter worth $28,000. Register Financial Advisors LLC purchased a new stake in shares of McKesson in the first quarter valued at $29,000. Richardson Financial Services Inc. bought a new position in shares of McKesson in the fourth quarter valued at approximately $31,000. Finally, Newbridge Financial Services Group Inc. raised 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 worth $35,000 after purchasing an additional 50 shares during the period. 85.07% of shares are currently held by institutional investors.

McKesson stock down 0.9%

MCK opened at $561.08 on Monday. The company has a market cap of $72.76 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.29 and a beta of 0.45. The company’s 50-day moving average price is $580.03 and its 200-day moving average price is $556.70. McKesson Co. it has a 52-week low of $404.72 and a 52-week high of $637.51.

McKesson (NYSE:MCK – Get Your Free Report ) last issued 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. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. In the same quarter last year, the company posted earnings of $7.27 per share. The company’s quarterly revenue was up 6.4% year over year. On average, research analysts anticipate that McKesson Co. will post 32.14 EPS for the current fiscal year.

McKesson increases dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a $0.71 dividend. The ex-dividend date is Friday, August 30. This represents a dividend of $2.84 on an annualized basis and a yield of 0.51%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is currently 11.08%.

Insiders place their bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were 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 directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. Also, EVP Leann B. Smith sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the sale, 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 ninety days, insiders have sold 12,342 shares of company stock worth $7,319,742. 0.11% of shares are held by insiders.

The Wall Street analyst weighs in

A number of equities analysts have commented on MCK shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. 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. Evercore ISI decreased their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company upped their target price on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Finally, Citigroup upped their target price 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 analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat , the stock has an average rating of “Moderate Buy” and an average price target of $620.29.

Check out the latest stock analysis on MCK

McKesson profile

(Free report)

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: US Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions and International. The US Pharmaceuticals segment distributes branded, generic, specialty, biosimilar and over-the-counter drugs and other healthcare-related products.

Further reading

Want to see what other hedge funds MCK owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for McKesson Co. (NYSE:MCK – Free Report).

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