Evergreen Capital Management LLC Sells 655 Shares of McKesson Co. (NYSE:MCK)

Evergreen Capital Management LLC lessened its holdings in McKesson Co. (NYSE:MCK) by 7.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,602 shares of the company’s stock after selling 655 shares during the period. Evergreen Capital Management LLC’s holdings in McKesson were worth $5,030,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. LRI Investments LLC bought a new stake in McKesson during the 1st quarter valued at approximately $28,000. Register Financial Advisors LLC purchased a new position in shares of McKesson in the first quarter worth $29,000. Richardson Financial Services Inc. bought a new position in shares of McKesson during the fourth quarter worth $31,000. Carolinas Wealth Consulting LLC grew its stake in McKesson by 42.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in McKesson in the 4th quarter valued at $40,000. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

Shares of NYSE:MCK opened at $505.00 on Tuesday. The firm has a market capitalization of $65.62 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The business has a 50 day simple moving average of $558.79 and a two-hundred day simple moving average of $557.07. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter in the previous year, the business earned $7.27 EPS. McKesson’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts expect that McKesson Co. will post 32.11 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is 12.69%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction 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 sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 11,259 shares of company stock worth $6,635,492 in the last ninety days. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCK. Barclays increased their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Bank of America lifted their price objective on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Mizuho increased their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Evercore ISI reduced their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $620.93.

McKesson 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.