Midland Wealth Advisors LLC Sells 30 Shares of McKesson Co. (NYSE:MCK)

Midland Wealth Advisors LLC trimmed its stake in McKesson Co. (NYSE:MCK) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 858 shares of the company’s stock after selling 30 shares during the period. Midland Wealth Advisors LLC’s holdings in McKesson were worth $501,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MCK. LRI Investments LLC acquired a new stake in shares of McKesson in the 1st quarter valued at $28,000. Register Financial Advisors LLC bought a new position in McKesson during the 1st quarter valued at about $29,000. Sachetta LLC acquired a new position in McKesson in the fourth quarter valued at about $27,000. Newbridge Financial Services Group Inc. boosted its position 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 buying an additional 50 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in shares of McKesson during the fourth quarter worth approximately $31,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of NYSE MCK opened at $573.95 on Wednesday. McKesson Co. has a fifty-two week low of $404.72 and a fifty-two week high of $637.51. The firm has a market capitalization of $74.43 billion, a P/E ratio of 25.65, a P/E/G ratio of 1.29 and a beta of 0.45. The company’s 50 day simple moving average is $578.48 and its 200 day simple moving average is $557.54.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the prior year, the business posted $7.27 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts expect that McKesson Co. will post 32.14 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. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is 11.08%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the sale, the chief executive officer now directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total value 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 approximately $51,546,684.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the sale, the executive vice president now owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,589 shares of company stock worth $5,163,981. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. UBS Group boosted their price objective on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Bank of America raised their target price on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Evercore ISI reduced their price target 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $620.29.

McKesson Company 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.