Toronto Dominion Bank Boosts Holdings in McKesson Co. (NYSE:MCK)

Toronto Dominion Bank boosted its stake in McKesson Co. (NYSE:MCK) by 23.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,311 shares of the company’s stock after acquiring an additional 10,532 shares during the period. Toronto Dominion Bank’s holdings in McKesson were worth $31,522,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the 4th quarter valued at about $28,000. Synergy Asset Management LLC acquired a new position in McKesson during the fourth quarter worth approximately $32,000. Crews Bank & Trust purchased a new stake in McKesson in the fourth quarter valued at approximately $33,000. Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC purchased a new position in shares of McKesson during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 0.7%

Shares of MCK stock opened at $715.44 on Tuesday. The stock has a 50 day simple moving average of $690.91 and a 200-day simple moving average of $635.19. The company has a market cap of $89.51 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to analysts’ expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. McKesson’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.18 earnings per share. On average, equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio (DPR) is 10.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCK. UBS Group lifted their target price on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 21st. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Bank of America raised their price target on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $686.69.

Insider Buying and Selling

In other news, CFO Britt J. Vitalone sold 6,336 shares of McKesson stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the sale, the chief financial officer now directly owns 14,760 shares in the company, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the sale, the chief accounting officer now directly owns 1,972 shares in the company, valued at $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,127 shares of company stock valued at $5,834,498. Corporate 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.