Mather Group LLC. Raises Stock Holdings in McKesson Co. (NYSE:MCK)

Mather Group LLC. grew its stake in McKesson Co. (NYSE:MCK) by 53.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,003 shares of the company’s stock after acquiring an additional 351 shares during the period. Mather Group LLC.’s holdings in McKesson were worth $539,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Intrust Bank NA purchased a new stake in shares of McKesson during the fourth quarter valued at about $206,000. Allspring Global Investments Holdings LLC raised its position in shares of McKesson by 6.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after acquiring an additional 5,425 shares during the period. Heritage Wealth Management LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $1,538,000. Councilmark Asset Management LLC acquired a new stake in shares of McKesson in the first quarter worth approximately $5,160,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new position in McKesson during the fourth quarter worth about $2,487,000. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on MCK. Bank of America lifted their price target on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Barclays boosted their target price on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Argus boosted their price objective 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. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their price target on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $599.33.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the sale, the chief executive officer now directly owns 89,845 shares in the company, valued at $51,607,866.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at approximately $51,607,866.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Britt J. Vitalone sold 12,752 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $7,116,763.68. Following the sale, the chief financial officer now owns 14,028 shares in the company, valued at approximately $7,828,886.52. The disclosure for this sale can be found here. Insiders sold a total of 33,320 shares of company stock valued at $19,041,332 in the last ninety days. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.3 %

Shares of MCK traded up $1.66 during trading hours on Tuesday, reaching $614.61. The company had a trading volume of 714,456 shares, compared to its average volume of 706,223. The company has a market capitalization of $79.86 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 1.46 and a beta of 0.45. McKesson Co. has a 12-month low of $404.72 and a 12-month high of $637.51. The firm has a 50 day simple moving average of $589.78 and a 200-day simple moving average of $548.37.

McKesson (NYSE:MCK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.19 EPS. Sell-side analysts forecast that McKesson Co. will post 31.68 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is 11.08%.

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.