Kendall Capital Management Buys 305 Shares of McKesson Co. (NYSE:MCK)

Kendall Capital Management increased its stake in McKesson Co. (NYSE:MCK) by 13.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,510 shares of the company’s stock after purchasing an additional 305 shares during the period. Kendall Capital Management’s holdings in McKesson were worth $1,466,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of McKesson by 1.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after acquiring an additional 46,659 shares during the last quarter. Putnam Investments LLC raised its position in shares of McKesson by 3.2% during the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after acquiring an additional 62,242 shares during the last quarter. Swedbank AB acquired a new position in shares of McKesson in the 1st quarter valued at $669,326,000. Boston Partners grew its holdings in shares of McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after buying an additional 47,140 shares during the period. Finally, WCM Investment Management LLC grew its holdings in shares of McKesson by 2.3% in the 1st quarter. WCM Investment Management LLC now owns 1,118,029 shares of the company’s stock valued at $600,214,000 after buying an additional 24,840 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $511.62 on Thursday. The company’s 50-day moving average price is $562.98 and its two-hundred day moving average price is $557.34. McKesson Co. has a one year low of $428.50 and a one year high of $637.51. The stock has a market capitalization of $66.48 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.27 EPS. On average, analysts anticipate that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio is presently 12.69%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MCK shares. Evercore ISI decreased their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup decreased their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Mizuho boosted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Robert W. Baird decreased 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. Finally, Leerink Partners reduced their target price on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total value of $2,180,192.76. Following the sale, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at approximately $50,012,564.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is owned by company insiders.

McKesson Company Profile

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.