Moors & Cabot Inc. Increases Holdings in McKesson Co. (NYSE:MCK)

Moors & Cabot Inc. increased its stake in McKesson Co. (NYSE:MCK) by 7.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,448 shares of the company’s stock after buying an additional 163 shares during the quarter. Moors & Cabot Inc.’s holdings in McKesson were worth $1,430,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. WealthPLAN Partners LLC increased its stake in shares of McKesson by 23.5% during the 2nd quarter. WealthPLAN Partners LLC now owns 1,363 shares of the company’s stock worth $796,000 after purchasing an additional 259 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in McKesson by 88.6% in the second quarter. Citizens Financial Group Inc. RI now owns 1,858 shares of the company’s stock worth $1,086,000 after buying an additional 873 shares during the last quarter. One Capital Management LLC bought a new stake in shares of McKesson in the second quarter valued at $1,055,000. Menard Financial Group LLC bought a new stake in shares of McKesson in the second quarter valued at $280,000. Finally, Quantbot Technologies LP grew its stake in shares of McKesson by 255.7% during the 2nd quarter. Quantbot Technologies LP now owns 20,747 shares of the company’s stock worth $12,117,000 after acquiring an additional 14,915 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

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

McKesson Trading Down 1.1 %

Shares of NYSE MCK opened at $513.91 on Wednesday. The business has a 50-day moving average of $564.48 and a 200-day moving average of $557.67. The firm has a market capitalization of $66.78 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12 month low of $422.15 and a 12 month high of $637.51.

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

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.55%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is 12.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company lowered their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Bank of America raised their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Leerink Partners lowered their target price on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Finally, Mizuho raised their price target on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.