Ingalls & Snyder LLC Raises Stock Position in McKesson Co. (NYSE:MCK)

Ingalls & Snyder LLC boosted its position in McKesson Co. (NYSE:MCK) by 1.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,177 shares of the company’s stock after purchasing an additional 143 shares during the quarter. Ingalls & Snyder LLC’s holdings in McKesson were worth $5,360,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MCK. Sachetta LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $27,000. LRI Investments LLC purchased a new position in McKesson in the 1st quarter worth approximately $28,000. Register Financial Advisors LLC bought a new stake in shares of McKesson during the 1st quarter worth $29,000. Richardson Financial Services Inc. purchased a new position in McKesson in the fourth quarter worth $31,000. Finally, 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. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

Shares of NYSE:MCK opened at $561.08 on Friday. The stock’s 50-day moving average is $580.03 and its 200 day moving average is $556.31. The company has a market cap of $72.76 billion, a PE ratio of 25.07, a P/E/G ratio of 1.29 and a beta of 0.45. McKesson Co. has a 1 year low of $404.72 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 firm 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%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $7.27 EPS. Analysts expect that McKesson Co. will post 32.14 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a $0.71 dividend. The ex-dividend date is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.51%. McKesson’s dividend payout ratio is 11.08%.

Analysts Set New Price Targets

MCK has been the topic of a number of research reports. Evercore ISI lowered their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Bank of America boosted their target price on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Argus boosted their price objective on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $620.29.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the transaction, the chief executive officer now owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maria Martinez sold 483 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,342 shares of company stock valued at $7,319,742. Company insiders own 0.11% of the company’s stock.

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.