McKesson Co. (NYSE:MCK) Shares Sold by XML Financial LLC

XML Financial LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366 shares of the company’s stock after selling 32 shares during the period. XML Financial LLC’s holdings in McKesson were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MCK. Norges Bank purchased a new position in shares of McKesson during the 4th quarter worth approximately $1,024,140,000. Swedbank AB purchased a new position in shares of McKesson during the 1st quarter worth approximately $669,326,000. TD Asset Management Inc grew its stake in McKesson by 202.8% in the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock worth $278,778,000 after acquiring an additional 403,312 shares during the period. Bessemer Group Inc. grew its stake in McKesson by 3,621.7% in the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after acquiring an additional 340,007 shares during the period. Finally, Bristol Gate Capital Partners Inc. purchased a new stake in McKesson in the 1st quarter worth approximately $97,510,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of NYSE:MCK traded up $9.72 during midday trading on Wednesday, hitting $558.24. 600,686 shares of the company’s stock traded hands, compared to its average volume of 743,094. McKesson Co. has a twelve month low of $404.72 and a twelve month high of $637.51. The company has a market cap of $72.54 billion, a PE ratio of 24.94, a P/E/G ratio of 1.46 and a beta of 0.45. The firm’s fifty day moving average price is $586.18 and its two-hundred day moving average price is $553.82.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS 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 net margin of 0.97% and a negative return on equity of 245.88%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.27 EPS. As a group, equities research analysts anticipate that McKesson Co. will post 31.68 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.51%. 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 12.69%.

Insider Activity

In other news, CFO Britt J. Vitalone sold 12,752 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total value of $7,116,763.68. Following the sale, the chief financial officer now owns 14,028 shares in the company, valued at approximately $7,828,886.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Thomas L. Rodgers sold 789 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the completion of the sale, the executive vice president now owns 7,909 shares of the company’s stock, valued at approximately $4,408,476.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Britt J. Vitalone sold 12,752 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the sale, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at approximately $7,828,886.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,713 shares of company stock worth $18,702,605. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on MCK. Citigroup lifted their target price on shares of McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. TD Cowen boosted their price objective on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Mizuho boosted their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company boosted their price objective on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Finally, Robert W. Baird lowered their price objective on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating for the company 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. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average 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.