Steward Partners Investment Advisory LLC Has $725,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Steward Partners Investment Advisory LLC raised its holdings in McKesson Co. (NYSE:MCK) by 7.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,396 shares of the company’s stock after acquiring an additional 356 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in McKesson were worth $725,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Gradient Investments LLC lifted its stake in McKesson by 1,944.4% in the second quarter. Gradient Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares during the last quarter. Mark Sheptoff Financial Planning LLC acquired a new stake in McKesson in the first quarter valued at approximately $27,000. Smart Portfolios LLC bought a new position in shares of McKesson in the first quarter valued at approximately $35,000. Investors Research Corp bought a new position in shares of McKesson in the first quarter valued at approximately $36,000. Finally, Asset Dedication LLC raised its position in shares of McKesson by 35.2% in the second quarter. Asset Dedication LLC now owns 346 shares of the company’s stock valued at $46,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

In related news, CEO Brian Scott Tyler sold 1,488 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $125.49, for a total transaction of $186,729.12. Following the transaction, the chief executive officer now owns 12,192 shares of the company’s stock, valued at $1,529,974.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M Christine Jacobs sold 1,296 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $146.65, for a total transaction of $190,058.40. The disclosure for this sale can be found here. Insiders have sold 4,704 shares of company stock worth $625,131 in the last ninety days. 0.88% of the stock is currently owned by insiders.

MCK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of McKesson in a research report on Monday, July 22nd. They issued an “overweight” rating and a $164.00 price target on the stock. Zacks Investment Research lowered shares of McKesson from a “hold” rating to a “sell” rating in a research report on Thursday, May 2nd. TheStreet raised shares of McKesson from a “c” rating to a “b” rating in a research report on Wednesday, July 31st. Wolfe Research lowered shares of McKesson from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 5th. Finally, ValuEngine lowered shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. McKesson has a consensus rating of “Hold” and an average target price of $147.27.

MCK stock traded down $0.31 on Friday, reaching $140.19. 1,447,289 shares of the company were exchanged, compared to its average volume of 1,553,253. McKesson Co. has a 12 month low of $106.11 and a 12 month high of $149.99. The company has a fifty day simple moving average of $139.28. The stock has a market capitalization of $25.98 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 1.42 and a beta of 1.13. The company has a quick ratio of 0.58, a current ratio of 1.01 and a debt-to-equity ratio of 1.14.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, July 31st. The company reported $3.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.04 by $0.27. McKesson had a net margin of 0.27% and a return on equity of 30.73%. The business had revenue of $55.73 billion for the quarter, compared to analyst estimates of $54.03 billion. During the same quarter in the previous year, the firm posted $2.90 earnings per share. McKesson’s revenue was up 5.9% compared to the same quarter last year. On average, sell-side analysts anticipate that McKesson Co. will post 14.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Friday, August 30th. This represents a $1.64 dividend on an annualized basis and a yield of 1.17%. This is a positive change from McKesson’s previous quarterly dividend of $0.39. McKesson’s payout ratio is 11.50%.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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