Abner Herrman & Brock LLC Increases Holdings in McKesson Co. (NYSE:MCK)

Abner Herrman & Brock LLC raised its position in shares of McKesson Co. (NYSE:MCK) by 5.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,273 shares of the company’s stock after purchasing an additional 338 shares during the period. Abner Herrman & Brock LLC’s holdings in McKesson were worth $2,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Tocqueville Asset Management L.P. lifted its stake in shares of McKesson by 0.7% in the 1st quarter. Tocqueville Asset Management L.P. now owns 3,726 shares of the company’s stock valued at $1,327,000 after purchasing an additional 27 shares during the last quarter. Richard W. Paul & Associates LLC increased its position in shares of McKesson by 2.9% during the first quarter. Richard W. Paul & Associates LLC now owns 1,005 shares of the company’s stock valued at $358,000 after acquiring an additional 28 shares during the last quarter. Atlas Capital Advisors LLC lifted its holdings in shares of McKesson by 0.5% in the 4th quarter. Atlas Capital Advisors LLC now owns 6,150 shares of the company’s stock worth $2,307,000 after acquiring an additional 29 shares during the last quarter. Valeo Financial Advisors LLC lifted its stake in McKesson by 2.6% during the first quarter. Valeo Financial Advisors LLC now owns 1,135 shares of the company’s stock worth $404,000 after purchasing an additional 29 shares in the last quarter. Finally, Humankind Investments LLC boosted its position in shares of McKesson by 1.1% during the first quarter. Humankind Investments LLC now owns 2,590 shares of the company’s stock worth $922,000 after buying an additional 29 shares during the period. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,471 shares of the business’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $420.00, for a total value of $1,457,820.00. Following the transaction, the chief executive officer now owns 129,714 shares in the company, valued at approximately $54,479,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Brian S. Tyler sold 25,246 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $422.58, for a total value of $10,668,454.68. Following the completion of the sale, the chief executive officer now owns 92,654 shares in the company, valued at approximately $39,153,727.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 3,471 shares of the business’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $420.00, for a total transaction of $1,457,820.00. Following the transaction, the chief executive officer now owns 129,714 shares in the company, valued at $54,479,880. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,002 shares of company stock valued at $18,570,541. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MCK shares. UBS Group raised their price objective on shares of McKesson from $470.00 to $480.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Argus boosted their price target on shares of McKesson from $430.00 to $450.00 in a report on Thursday, June 29th. TD Cowen raised their price objective on shares of McKesson from $491.00 to $495.00 and gave the company an “outperform” rating in a report on Monday, August 7th. StockNews.com started coverage on shares of McKesson in a research report on Thursday, August 17th. They set a “strong-buy” rating for the company. Finally, Morgan Stanley upped their price objective on McKesson from $426.00 to $459.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $452.33.

McKesson Trading Down 0.7 %

Shares of NYSE MCK traded down $2.83 during trading hours on Thursday, reaching $417.65. The stock had a trading volume of 120,519 shares, compared to its average volume of 895,592. The firm has a 50-day moving average of $417.94 and a 200-day moving average of $390.04. The firm has a market cap of $56.34 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.45 and a beta of 0.60. McKesson Co. has a fifty-two week low of $331.75 and a fifty-two week high of $441.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $7.27 earnings per share for the quarter, beating analysts’ consensus estimates of $5.85 by $1.42. The company had revenue of $74.48 billion during the quarter, compared to analysts’ expectations of $70.28 billion. McKesson had a negative return on equity of 252.54% and a net margin of 1.32%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.83 earnings per share. On average, equities analysts predict that McKesson Co. will post 27.17 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.62 per share. This is an increase from McKesson’s previous quarterly dividend of $0.54. This represents a $2.48 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Thursday, August 31st. McKesson’s dividend payout ratio (DPR) is presently 9.25%.

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.