Vaughan David Investments LLC IL Takes $238,000 Position in McKesson Co. (NYSE:MCK)

Vaughan David Investments LLC IL bought a new stake in McKesson Co. (NYSE:MCK) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 407 shares of the company’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sachetta LLC acquired a new position in shares of McKesson in the fourth quarter valued at about $27,000. LRI Investments LLC acquired a new position in McKesson in the 1st quarter worth approximately $28,000. Register Financial Advisors LLC purchased a new position in McKesson during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in McKesson during the 4th quarter valued at approximately $31,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings 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 acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other 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 value 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 $51,546,684.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 11,259 shares of company stock valued at $6,635,492 in the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Robert W. Baird decreased their price objective on McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup dropped their target price on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday. Leerink Partners decreased their price target on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Finally, Evercore ISI dropped their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $622.07.

McKesson Trading Up 0.9 %

Shares of McKesson stock opened at $510.45 on Thursday. McKesson Co. has a twelve month low of $417.65 and a twelve month high of $637.51. The firm’s 50-day moving average price is $570.15 and its 200 day moving average price is $557.58. The firm has a market capitalization of $66.20 billion, a PE ratio of 22.81, a P/E/G ratio of 1.16 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $7.27 EPS. On average, sell-side analysts predict that McKesson Co. will post 32.14 EPS for the current fiscal year.

McKesson Increases Dividend

The firm 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. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. McKesson’s dividend payout ratio is presently 12.69%.

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.