XML Financial LLC Decreases Position in McKesson Co. (NYSE:MCK)

XML Financial LLC decreased its position in McKesson Co. (NYSE:MCK) by 8.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 366 shares of the company’s stock after selling 32 shares during the period. XML Financial LLC’s holdings in McKesson were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in McKesson in the 1st quarter worth $28,000. Register Financial Advisors LLC purchased a new position in McKesson in the 1st quarter worth $29,000. Sachetta LLC purchased a new position in McKesson in the 4th quarter worth $27,000. Newbridge Financial Services Group Inc. raised its stake in McKesson by 333.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after acquiring an additional 50 shares during the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of McKesson during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 789 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $439,788.60. Following the completion of the sale, the executive vice president now directly owns 7,909 shares in the company, valued at $4,408,476.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Thomas L. Rodgers sold 789 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $439,788.60. Following the transaction, the executive vice president now directly owns 7,909 shares in the company, valued at $4,408,476.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas L. Rodgers sold 5,232 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $560.99, for a total value of $2,935,099.68. Following the completion of the transaction, the executive vice president now owns 2,544 shares in the company, valued at $1,427,158.56. The disclosure for this sale can be found here. Insiders sold 32,713 shares of company stock worth $18,702,605 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MCK shares. UBS Group lifted their price objective on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird reduced their price objective on McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. TD Cowen lifted their price objective on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Evercore ISI reduced their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Argus raised their target price on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.29.

McKesson Trading Up 1.8 %

NYSE:MCK traded up $9.72 during trading hours on Wednesday, hitting $558.24. 600,686 shares of the stock were exchanged, compared to its average volume of 743,094. McKesson Co. has a 52-week low of $404.72 and a 52-week high of $637.51. The firm’s fifty day moving average price is $586.18 and its 200 day moving average price is $553.82. The company has a market cap of $72.54 billion, a P/E ratio of 24.94, a P/E/G ratio of 1.46 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. McKesson’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $7.27 EPS. Equities analysts expect that McKesson Co. will post 31.68 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a $0.71 dividend. The ex-dividend date is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.51%. McKesson’s dividend payout ratio is 12.69%.

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.