Toth Financial Advisory Corp Has $11.56 Million Stake in McKesson Co. (NYSE:MCK)

Toth Financial Advisory Corp lifted its stake in McKesson Co. (NYSE:MCK) by 6.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,183 shares of the company’s stock after acquiring an additional 1,104 shares during the period. McKesson accounts for about 1.4% of Toth Financial Advisory Corp’s investment portfolio, making the stock its 16th largest position. Toth Financial Advisory Corp’s holdings in McKesson were worth $11,564,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new position in McKesson in the 4th quarter valued at $28,000. Atala Financial Inc bought a new position in McKesson in the 4th quarter worth $34,000. Graney & King LLC acquired a new position in McKesson during the 4th quarter worth $38,000. Finally, Creative Capital Management Investments LLC bought a new stake in McKesson during the fourth quarter valued at about $44,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCK. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an “equal weight” rating in a research note on Tuesday, June 3rd. Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. UBS Group upped their price target on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 30th. Finally, Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $692.46.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the sale, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president now directly owns 2,544 shares in the company, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,747 shares of company stock valued at $9,852,587. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

MCK opened at $712.99 on Monday. The company has a market capitalization of $89.20 billion, a P/E ratio of 32.65, a P/E/G ratio of 1.29 and a beta of 0.49. The firm’s fifty day moving average price is $699.69 and its two-hundred day moving average price is $641.34. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period in the previous year, the business earned $6.18 EPS. The firm’s revenue was up 18.9% on a year-over-year basis. On average, equities research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

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.