Magnolia Capital Advisors LLC Takes $227,000 Position in McKesson Co. (NYSE:MCK)

Magnolia Capital Advisors LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 388 shares of the company’s stock, valued at approximately $227,000.

Several other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of McKesson by 1.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after buying an additional 46,659 shares during the last quarter. Putnam Investments LLC lifted its holdings in shares of McKesson by 3.2% during the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after buying an additional 62,242 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after buying an additional 36,583 shares during the last quarter. Swedbank AB acquired a new stake in McKesson in the 1st quarter worth approximately $669,326,000. Finally, Boston Partners lifted its holdings in McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after purchasing an additional 47,140 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 1.3 %

MCK opened at $494.42 on Tuesday. The stock has a market cap of $64.24 billion, a PE ratio of 22.09, a P/E/G 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. The stock’s 50 day simple moving average is $549.07 and its 200-day simple moving average is $555.57.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $7.27 earnings per share. Equities analysts forecast that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.57%. McKesson’s payout ratio is currently 12.69%.

Analyst Upgrades and Downgrades

MCK has been the subject of several analyst reports. Mizuho boosted 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. StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a report on Friday. Bank of America boosted their target price on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $613.36.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the sale, the chief executive officer now directly owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 11,259 shares of company stock worth $6,635,492. Company insiders own 0.11% of the company’s stock.

McKesson Company 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.