Toth Financial Advisory Corp Increases Stake in McKesson Co. (NYSE:MCK)

Toth Financial Advisory Corp raised its stake in McKesson Co. (NYSE:MCK) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,079 shares of the company’s stock after purchasing an additional 527 shares during the quarter. McKesson comprises approximately 1.1% of Toth Financial Advisory Corp’s holdings, making the stock its 28th biggest holding. Toth Financial Advisory Corp’s holdings in McKesson were worth $9,164,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its holdings in McKesson by 76.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 4,778 shares of the company’s stock valued at $2,791,000 after purchasing an additional 2,064 shares in the last quarter. Insigneo Advisory Services LLC boosted its stake in McKesson by 25.8% during the 2nd quarter. Insigneo Advisory Services LLC now owns 804 shares of the company’s stock valued at $493,000 after acquiring an additional 165 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in McKesson during the 2nd quarter worth $527,000. Daymark Wealth Partners LLC increased its position in shares of McKesson by 10.0% in the 2nd quarter. Daymark Wealth Partners LLC now owns 1,348 shares of the company’s stock worth $788,000 after purchasing an additional 123 shares during the last quarter. Finally, MBB Public Markets I LLC acquired a new stake in shares of McKesson in the 2nd quarter valued at about $5,488,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $591.47 on Friday. The stock has a market capitalization of $75.08 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.26 and a beta of 0.52. The company has a 50 day moving average price of $592.65 and a 200 day moving average price of $561.49. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the company posted $6.23 earnings per share. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, sell-side analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio is 14.71%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Mizuho began coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $646.14.

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.