McKesson Co. (NYSE:MCK) Shares Bought by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. increased its stake in McKesson Co. (NYSE:MCK) by 6.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 526 shares of the company’s stock after purchasing an additional 30 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in McKesson were worth $307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RFP Financial Group LLC lifted its stake in shares of McKesson by 9.8% in 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 during the period. Modera Wealth Management LLC raised its holdings in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares in the last quarter. Larson Financial Group LLC lifted its position in McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after purchasing an additional 17 shares during the period. First Western Trust Bank boosted its stake in McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after purchasing an additional 18 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of McKesson by 1.7% during the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after purchasing an additional 19 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.0 %

Shares of MCK stock opened at $508.00 on Friday. The company has a market capitalization of $66.01 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The stock’s fifty day simple moving average is $560.25 and its 200-day simple moving average is $557.01.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.27 EPS. On average, sell-side analysts predict that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a $0.71 dividend. This is an increase 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 0.56%. McKesson’s dividend payout ratio is presently 12.69%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were 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 directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 11,259 shares of company stock worth $6,635,492 in the last quarter. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Citigroup decreased their target price on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. 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. JPMorgan Chase & Co. lifted their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Mizuho increased their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Argus lifted their price target on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. 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 company presently has an average rating of “Moderate Buy” and an average target price of $620.93.

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.