Kowal Investment Group LLC Has $277,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Kowal Investment Group LLC increased its position in shares of McKesson Co. (NYSE:MCK) by 6.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 474 shares of the company’s stock after buying an additional 29 shares during the period. Kowal Investment Group LLC’s holdings in McKesson were worth $277,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. LRI Investments LLC acquired a new position in McKesson during the 1st quarter worth approximately $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new position in shares of McKesson during the 4th quarter worth approximately $31,000. Carolinas Wealth Consulting LLC boosted its position in McKesson by 42.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in McKesson in the 4th quarter valued at $40,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Down 0.0 %

McKesson stock opened at $508.00 on Monday. The firm has a fifty day simple moving average of $560.25 and a two-hundred day simple moving average of $557.24. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The company has a market capitalization of $66.01 billion, a PE ratio of 22.70, a P/E/G 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 for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion during 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%. McKesson’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $7.27 EPS. As a group, equities analysts expect 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. Investors of record on Monday, September 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s payout ratio is presently 12.69%.

Analyst Ratings Changes

MCK has been the topic of a number of recent analyst reports. Barclays lifted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company reduced their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Bank of America boosted their price objective on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Leerink Partners reduced their target price on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Finally, Robert W. Baird lowered their price target on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $620.93.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated 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 transaction, 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 is available through this hyperlink. Insiders sold 11,259 shares of company stock valued at $6,635,492 in the last quarter. Company insiders own 0.11% of the company’s stock.

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.