Benjamin Edwards Inc. Acquires 725 Shares of McKesson Co. (NYSE:MCK)

Benjamin Edwards Inc. lifted its holdings in McKesson Co. (NYSE:MCK) by 24.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,723 shares of the company’s stock after buying an additional 725 shares during the quarter. Benjamin Edwards Inc.’s holdings in McKesson were worth $2,174,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sachetta LLC bought a new position in shares of McKesson in the fourth quarter valued at about $27,000. LRI Investments LLC bought a new position in shares of McKesson in the first quarter valued at about $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson in the first quarter valued at about $29,000. Richardson Financial Services Inc. bought a new position in shares of McKesson in the fourth quarter valued at about $31,000. Finally, Carolinas Wealth Consulting LLC raised its holdings in shares of McKesson by 42.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after buying an additional 24 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCK. Evercore ISI cut their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup lowered their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lowered their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Leerink Partners lowered their price objective on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $620.93.

McKesson Trading Down 0.7 %

McKesson stock opened at $507.95 on Friday. The firm has a market capitalization of $66.00 billion, a P/E ratio of 22.70, a PEG 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 business has a 50-day moving average of $561.63 and a 200-day moving average of $557.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period in the previous year, the firm earned $7.27 EPS. McKesson’s quarterly revenue was up 6.4% compared to the same quarter last year. Research analysts anticipate that McKesson Co. will post 32.11 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed 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 of this dividend is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. McKesson’s payout ratio is currently 12.69%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the transaction, the chief executive officer now directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 11,259 shares of company stock worth $6,635,492. 0.11% of the stock is owned by company 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.