Kowal Investment Group LLC Raises Stake in McKesson Co. (NYSE:MCK)

Kowal Investment Group LLC raised its stake in shares of McKesson Co. (NYSE:MCK) by 6.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 474 shares of the company’s stock after buying an additional 29 shares during the quarter. Kowal Investment Group LLC’s holdings in McKesson were worth $277,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. RFP Financial Group LLC grew its stake in shares of McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after acquiring an additional 17 shares during the period. Modera Wealth Management LLC lifted its holdings in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after purchasing an additional 17 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after buying an additional 17 shares in the last quarter. First Western Trust Bank boosted its stake in shares of McKesson by 2.0% in the first 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. Finally, Lindbrook Capital LLC boosted its stake in McKesson by 1.7% in the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock worth $608,000 after purchasing an additional 19 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCK has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Evercore ISI reduced their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Argus upped their price objective on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Robert W. Baird lowered their target price on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $620.93.

McKesson Price Performance

McKesson stock opened at $508.00 on Monday. The firm has a 50 day simple moving average of $560.25 and a 200-day simple moving average of $557.24. The stock has a market cap of $66.01 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the previous year, the company posted $7.27 EPS. McKesson’s revenue was up 6.4% compared to the same quarter last year. Equities analysts expect that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’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 sale, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 11,259 shares of company stock valued at $6,635,492 in the last ninety days. Insiders own 0.11% of the company’s stock.

McKesson 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.