Pinnacle Wealth Management Advisory Group LLC Acquires 31 Shares of McKesson Co. (NYSE:MCK)

Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of McKesson Co. (NYSE:MCK) by 3.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 902 shares of the company’s stock after buying an additional 31 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in McKesson were worth $527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in McKesson by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after purchasing an additional 46,659 shares in the last quarter. Norges Bank bought a new position in McKesson in the fourth quarter worth approximately $1,024,140,000. Putnam Investments LLC grew its stake in McKesson by 3.2% in the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after purchasing an additional 62,242 shares in the last quarter. Swedbank AB bought a new position in McKesson in the first quarter worth approximately $669,326,000. Finally, Boston Partners grew its stake in McKesson by 4.1% in the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after purchasing an additional 47,140 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the sale, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the sale, the chief executive officer now directly owns 89,845 shares in the company, valued at approximately $51,607,866.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Britt J. Vitalone sold 894 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $498,315.60. Following the sale, the chief financial officer now owns 16,455 shares in the company, valued at $9,172,017. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,257 shares of company stock valued at $11,192,946. Company insiders own 0.11% of the company’s stock.

McKesson Trading Down 1.6 %

Shares of MCK traded down $8.75 during midday trading on Friday, hitting $552.15. 710,191 shares of the company’s stock traded hands, compared to its average volume of 743,372. McKesson Co. has a 1 year low of $404.72 and a 1 year high of $637.51. The firm’s fifty day moving average is $584.83 and its 200-day moving average is $554.51. The stock has a market capitalization of $71.74 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 1.46 and a beta of 0.45.

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 company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $7.27 EPS. On average, equities research analysts anticipate that McKesson Co. will post 31.68 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.51%. The ex-dividend date is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Analyst Upgrades and Downgrades

MCK has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. UBS Group upped their target price on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Mizuho upped their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $620.29.

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.