Williams Financial LLC Invests $9.19 Million in McKesson Co. (NYSE:MCK)

Williams Financial LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) during the second quarter, HoldingsChannel.com reports. The firm purchased 16,506 shares of the company’s stock, valued at approximately $9,189,000. McKesson accounts for 2.3% of Williams Financial LLC’s portfolio, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Sachetta LLC bought a new stake in shares of McKesson during the 4th quarter valued at about $27,000. LRI Investments LLC bought a new stake in McKesson during the 1st quarter valued at approximately $28,000. Register Financial Advisors LLC purchased a new position in shares of McKesson during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new position in shares of McKesson during the 4th quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of McKesson by 333.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK opened at $518.81 on Friday. The company’s 50-day simple moving average is $567.33 and its two-hundred day simple moving average is $557.52. The stock has a market capitalization of $67.28 billion, a P/E ratio of 23.18, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a 52-week low of $417.65 and a 52-week 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, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. 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 firm earned $7.27 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Research analysts forecast that McKesson Co. will post 32.11 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.55%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is presently 12.69%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup reduced their price target on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Argus increased their price target on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Mizuho boosted their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Robert W. Baird reduced their price objective on McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Wells Fargo & Company dropped their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $620.93.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 11,259 shares of company stock worth $6,635,492. 0.11% of the stock is owned by insiders.

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.