Pflug Koory LLC Purchases 595 Shares of McKesson Co. (NYSE:MCK)

Pflug Koory LLC raised its position in McKesson Co. (NYSE:MCK) by 6.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,927 shares of the company’s stock after buying an additional 595 shares during the quarter. McKesson comprises about 1.0% of Pflug Koory LLC’s portfolio, making the stock its 26th largest position. Pflug Koory LLC’s holdings in McKesson were worth $1,334,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Alpha Quant Advisors LLC grew its holdings in shares of McKesson by 0.7% during the 1st quarter. Alpha Quant Advisors LLC now owns 10,818 shares of the company’s stock valued at $1,270,000 after purchasing an additional 78 shares during the last quarter. Poehling Capital Management LLC grew its holdings in McKesson by 1.3% during the 1st quarter. Poehling Capital Management LLC now owns 6,162 shares of the company’s stock worth $721,000 after acquiring an additional 80 shares during the last quarter. Adirondack Trust Co. grew its holdings in McKesson by 22.4% during the 1st quarter. Adirondack Trust Co. now owns 480 shares of the company’s stock worth $57,000 after acquiring an additional 88 shares during the last quarter. Asset Dedication LLC grew its holdings in McKesson by 35.2% during the 2nd quarter. Asset Dedication LLC now owns 346 shares of the company’s stock worth $46,000 after acquiring an additional 90 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC grew its holdings in McKesson by 8.1% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,214 shares of the company’s stock worth $142,000 after acquiring an additional 91 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

In other McKesson 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 completion of the sale, the chief executive officer now owns 12,192 shares in the company, valued at approximately $1,529,974.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director M Christine Jacobs sold 1,296 shares of the business’s stock in a transaction on Monday, August 5th. The shares were 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 a total of 4,704 shares of company stock valued at $625,131 in the last 90 days. 0.88% of the stock is currently owned by company insiders.

Shares of McKesson stock traded up $3.67 during trading on Friday, reaching $144.94. 577,121 shares of the company traded hands, compared to its average volume of 1,570,241. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.01 and a quick ratio of 0.58. McKesson Co. has a 1-year low of $106.11 and a 1-year high of $149.99. The company has a 50 day moving average price of $140.51 and a 200-day moving average price of $128.45. The firm has a market capitalization of $26.43 billion, a PE ratio of 10.68, a P/E/G ratio of 1.48 and a beta of 1.13.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.39. McKesson’s payout ratio is 11.50%.

MCK has been the topic of a number of research reports. Wolfe Research lowered shares of McKesson from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. Bank of America set a $160.00 target price on shares of McKesson and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. started coverage on shares of McKesson in a report on Monday, July 22nd. They set an “overweight” rating and a $164.00 target price on the stock. TheStreet upgraded shares of McKesson from a “c” rating to a “b” rating in a research report on Wednesday, July 31st. Finally, ValuEngine downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. McKesson currently has a consensus rating of “Hold” and an average price target of $148.70.

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.

Further Reading: Outstanding Shares

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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