McKesson Co. (NYSE:MCK) Shares Acquired by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. increased its position in shares of McKesson Co. (NYSE:MCK) by 2,143.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,458 shares of the company’s stock after purchasing an additional 1,393 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in McKesson were worth $851,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its holdings in shares of McKesson by 30.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,670 shares of the company’s stock worth $773,000 after purchasing an additional 386 shares during the last quarter. NEOS Investment Management LLC lifted its holdings in shares of McKesson by 26.9% in the 4th quarter. NEOS Investment Management LLC now owns 1,887 shares of the company’s stock valued at $874,000 after buying an additional 400 shares during the period. Peapack Gladstone Financial Corp boosted its stake in shares of McKesson by 5.0% in the fourth quarter. Peapack Gladstone Financial Corp now owns 8,681 shares of the company’s stock worth $4,019,000 after buying an additional 414 shares during the last quarter. Lake Street Advisors Group LLC acquired a new stake in McKesson during the fourth quarter worth about $714,000. Finally, Capital International Investors raised its position in McKesson by 50.6% during the fourth quarter. Capital International Investors now owns 219,532 shares of the company’s stock valued at $101,639,000 after acquiring an additional 73,745 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of analyst reports. Barclays raised their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Argus upped their price target on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Bank of America increased their target price on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $613.36.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.8 %

Shares of McKesson stock opened at $498.48 on Wednesday. The business’s fifty day simple moving average is $547.33 and its 200-day simple moving average is $555.33. The firm has a market cap of $64.77 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results 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 the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.27 EPS. As a group, equities analysts expect that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was 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 presently 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.