Bard Financial Services Inc. Purchases Shares of 350 McKesson Co. (NYSE:MCK)

Bard Financial Services Inc. purchased a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 350 shares of the company's stock, valued at approximately $236,000.

Several other large investors also recently bought and sold shares of MCK. GAMMA Investing LLC increased its position in McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after buying an additional 2,389,992 shares in the last quarter. Norges Bank purchased a new position in McKesson during the fourth quarter worth approximately $1,200,361,000. Farallon Capital Management LLC purchased a new stake in shares of McKesson during the 4th quarter worth about $348,044,000. Marshall Wace LLP raised its position in McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after purchasing an additional 358,322 shares during the period. Finally, Leigh Baldwin & CO. LLC purchased a new position in shares of McKesson in the fourth quarter valued at $182,861,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Mizuho boosted their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Morgan Stanley raised their target price on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $694.38.

Insider Activity at McKesson

In other McKesson 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 of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the transaction, the chief executive officer now directly owns 51,243 shares of the company's stock, valued at $36,173,970.99. This trade represents a 27.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock worth $23,526,451 in the last 90 days. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of McKesson stock traded down $3.65 during trading on Friday, hitting $727.15. 518,101 shares of the stock traded hands, compared to its average volume of 920,038. The stock has a market cap of $90.98 billion, a P/E ratio of 33.29, a PEG ratio of 1.29 and a beta of 0.49. The company has a fifty day moving average price of $703.28 and a two-hundred day moving average price of $644.37. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $732.99.

McKesson (NYSE:MCK - Get Free Report) last posted 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. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business's revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company earned $6.18 earnings per share. On average, equities research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio is 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.