Toth Financial Advisory Corp Decreases Holdings in McKesson Corporation $MCK

Key Points

• Toth Financial Advisory Corp reduced its stake in McKesson Corporation by 7.1%, selling 1,221 shares, and now holds approximately $11.7 million worth of the stock.
• Institutional investors own 85.07% of McKesson's stock, with several hedge funds increasing their positions during the second quarter.
• McKesson announced a quarterly dividend increase to $0.82 per share, up from $0.71, with an ex-dividend date set for September 2nd.

Toth Financial Advisory Corp reduced its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,962 shares of the company's stock after selling 1,221 shares during the period. McKesson comprises 1.4% of Toth Financial Advisory Corp's portfolio, making the stock its 19th largest position. Toth Financial Advisory Corp's holdings in McKesson were worth $11,696,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Capital A Wealth Management LLC bought a new position in McKesson in the 4th quarter valued at about $26,000. Bank of Jackson Hole Trust boosted its position in shares of McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after purchasing an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after buying an additional 41 shares in the last quarter. Saudi Central Bank purchased a new stake in McKesson during the first quarter valued at about $34,000. Finally, Flaharty Asset Management LLC purchased a new stake in McKesson during the first quarter valued at about $39,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Up 1.2%

MCK traded up $7.94 during trading on Friday, hitting $698.07. The company's stock had a trading volume of 1,445,591 shares, compared to its average volume of 678,052. The firm has a market capitalization of $86.83 billion, a P/E ratio of 27.83, a PEG ratio of 1.39 and a beta of 0.51. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89. The stock's fifty day moving average price is $695.15 and its 200-day moving average price is $696.81.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.88 EPS. Equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from McKesson's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. McKesson's dividend payout ratio is currently 13.08%.

Analyst Ratings Changes

Several brokerages recently weighed in on MCK. Morgan Stanley reaffirmed an "overweight" rating and set a $810.00 price objective (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Wall Street Zen downgraded shares of McKesson from a "buy" rating to a "hold" rating in a research note on Saturday. Cowen reissued a "buy" rating on shares of McKesson in a report on Thursday, August 7th. Wells Fargo & Company lifted their price objective on McKesson from $766.00 to $772.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. Finally, Evercore ISI lifted their price objective on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $725.10.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 19,371 shares of the company's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the sale, the chief executive officer directly owned 27,872 shares in the company, valued at $19,735,884.48. This represents a 41.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer owned 657 shares of the company's stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by corporate insiders.

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.