Manchester Capital Management LLC Grows Position in McKesson Co. (NYSE:MCK)

Manchester Capital Management LLC raised its holdings in McKesson Co. (NYSE:MCK) by 164.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 890 shares of the company’s stock after acquiring an additional 554 shares during the quarter. Manchester Capital Management LLC’s holdings in McKesson were worth $478,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Sachetta LLC acquired a new stake in shares of McKesson in the fourth quarter valued at about $27,000. Register Financial Advisors LLC purchased a new position in McKesson in the first quarter valued at about $29,000. BKM Wealth Management LLC acquired a new stake in shares of McKesson during the 4th quarter valued at approximately $31,000. Richardson Financial Services Inc. purchased a new stake in shares of McKesson during the 4th quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. grew 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 worth $35,000 after acquiring an additional 50 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Britt J. Vitalone sold 894 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $498,315.60. Following the completion of the sale, the chief financial officer now directly owns 16,455 shares of the company’s stock, valued at approximately $9,172,017. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the sale, the chief executive officer now owns 86,092 shares in the company, valued at $50,012,564.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Britt J. Vitalone sold 894 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $498,315.60. Following the completion of the transaction, the chief financial officer now owns 16,455 shares of the company’s stock, valued at $9,172,017. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,567 shares of company stock valued at $16,691,841. Company insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.3 %

Shares of MCK stock traded up $1.84 on Friday, reaching $577.07. 84,821 shares of the stock were exchanged, compared to its average volume of 698,867. The stock has a market cap of $74.98 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45. The firm has a 50 day moving average of $574.91 and a two-hundred day moving average of $533.02. McKesson Co. has a 1-year low of $395.30 and a 1-year high of $612.17.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter last year, the business earned $7.19 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts predict that McKesson Co. will post 31.53 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, June 3rd. McKesson’s payout ratio is currently 11.08%.

Analyst Ratings Changes

Several analysts have weighed in on MCK shares. Citigroup upped their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Barclays raised their price objective on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Bank of America raised their price target on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, TD Cowen boosted their target price on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $596.00.

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.