Steigerwald Gordon & Koch Inc. Grows Stock Position in McKesson Co. (NYSE:MCK)

Steigerwald Gordon & Koch Inc. increased its position in McKesson Co. (NYSE:MCK) by 53.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,804 shares of the company’s stock after acquiring an additional 11,832 shares during the quarter. McKesson comprises approximately 2.4% of Steigerwald Gordon & Koch Inc.’s holdings, making the stock its 15th biggest position. Steigerwald Gordon & Koch Inc.’s holdings in McKesson were worth $19,743,000 at the end of the most recent reporting period.

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

McKesson Stock Up 0.2 %

Shares of MCK traded up $0.83 during midday trading on Tuesday, reaching $510.25. The company had a trading volume of 31,722 shares, compared to its average volume of 763,465. McKesson Co. has a 1-year low of $417.65 and a 1-year high of $637.51. The stock has a market cap of $66.17 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.16 and a beta of 0.44. The firm has a 50 day simple moving average of $573.21 and a 200-day simple moving average of $557.99.

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 analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the company earned $7.27 EPS. As a group, sell-side analysts anticipate that McKesson Co. will post 32.14 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is 12.69%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 11,259 shares of company stock worth $6,635,492 in the last three months. 0.11% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Evercore ISI dropped their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Citigroup increased their target price on McKesson from $620.00 to $670.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Robert W. Baird decreased their target price on McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $624.93.

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.