Virtu Financial LLC Invests $4.17 Million in McKesson Co. (NYSE:MCK)

Virtu Financial LLC purchased a new stake in McKesson Co. (NYSE:MCK) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,135 shares of the company’s stock, valued at approximately $4,167,000.

A number of other hedge funds have also bought and sold shares of the business. LRI Investments LLC bought a new position in shares of McKesson in the first quarter worth $28,000. Register Financial Advisors LLC bought a new stake in shares of McKesson during the 1st quarter worth approximately $29,000. Sachetta LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. increased 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 acquiring an additional 50 shares during the last quarter. Finally, Richardson Financial Services Inc. acquired a new position in McKesson during the fourth quarter valued at approximately $31,000. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 11,259 shares of company stock worth $6,635,492. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $519.82 on Tuesday. The business has a 50-day simple moving average of $565.94 and a 200 day simple moving average of $557.75. The firm has a market capitalization of $67.41 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a one year low of $422.15 and a one year high of $637.51.

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

McKesson Increases Dividend

The firm 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 $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is currently 12.69%.

Analyst Ratings Changes

A number of research firms have issued reports on MCK. 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. Mizuho boosted their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Argus lifted their price target on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Wells Fargo & Company lowered their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Evercore ISI cut their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target 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.