Black Diamond Financial LLC Boosts Stake in McKesson Co. (NYSE:MCK)

Black Diamond Financial LLC increased its stake in McKesson Co. (NYSE:MCK) by 2.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,506 shares of the company’s stock after acquiring an additional 33 shares during the period. Black Diamond Financial LLC’s holdings in McKesson were worth $880,000 as of its most recent SEC filing.

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

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Monday, August 5th. The shares were 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 owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold 11,259 shares of company stock valued at $6,635,492 over the last three months. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 1.5 %

NYSE:MCK opened at $518.81 on Monday. The company has a 50-day moving average price of $567.33 and a 200-day moving average price of $557.76. The stock has a market cap of $67.28 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12 month low of $417.65 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the previous year, the company earned $7.27 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts forecast that McKesson Co. will post 32.11 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 issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. Leerink Partners reduced 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. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Wells Fargo & Company dropped their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday. Citigroup decreased their price target on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Barclays increased their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

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.