KCM Investment Advisors LLC Has $827,000 Position in McKesson Co. (NYSE:MCK)

KCM Investment Advisors LLC grew its position in McKesson Co. (NYSE:MCK) by 4.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,416 shares of the company’s stock after purchasing an additional 61 shares during the period. KCM Investment Advisors LLC’s holdings in McKesson were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in MCK. RFP Financial Group LLC raised its stake in McKesson by 9.8% in the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after purchasing an additional 17 shares in the last quarter. Modera Wealth Management LLC grew its position in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after buying an additional 17 shares in the last quarter. First Western Trust Bank increased its stake in McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after acquiring an additional 18 shares during the period. Lindbrook Capital LLC raised its holdings in McKesson by 1.7% in the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after acquiring an additional 19 shares in the last quarter. Finally, TCI Wealth Advisors Inc. lifted its position in shares of McKesson by 1.3% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,531 shares of the company’s stock valued at $822,000 after acquiring an additional 19 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other McKesson news, EVP Leann B. Smith sold 600 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares in the company, valued at $51,607,866.45. The disclosure for this sale can be found here. Insiders sold a total of 12,342 shares of company stock valued at $7,319,742 in the last ninety days. 0.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. UBS Group lifted their target price on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Wells Fargo & Company upped their price objective on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Mizuho upped their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Barclays increased their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $620.29.

McKesson Price Performance

MCK opened at $561.08 on Friday. The firm has a market capitalization of $72.90 billion, a PE ratio of 25.07, a P/E/G ratio of 1.46 and a beta of 0.45. McKesson Co. has a fifty-two week low of $404.72 and a fifty-two week high of $637.51. The company’s 50-day moving average is $580.87 and its 200 day moving average is $555.49.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.27 EPS. As a group, analysts expect that McKesson Co. will post 31.68 EPS for the current 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 paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is 12.69%.

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.