Bard Financial Services Inc. Invests $201,000 in McKesson Co. (NYSE:MCK)

Bard Financial Services Inc. purchased a new position in shares of McKesson Co. (NYSE:MCK) in the first quarter, Holdings Channel.com reports. The fund purchased 375 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Intrust Bank NA acquired a new stake in McKesson in the 4th quarter valued at approximately $206,000. Raymond James & Associates increased its holdings in McKesson by 6.1% in the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after purchasing an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in McKesson by 6.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after purchasing an additional 5,425 shares during the last quarter. Heritage Wealth Management LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $1,538,000. Finally, Insight Wealth Strategies LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $1,813,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 0.3 %

Shares of McKesson stock traded up $1.84 on Friday, reaching $577.07. 84,821 shares of the stock were exchanged, compared to its average volume of 698,867. McKesson Co. has a 1-year low of $395.30 and a 1-year high of $612.17. The business has a fifty day moving average price of $574.91 and a two-hundred day moving average price of $533.02. The firm has a market capitalization of $74.98 billion, a PE ratio of 25.70, a PEG ratio of 1.37 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the previous year, the company posted $7.19 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Research analysts expect that McKesson Co. will post 31.53 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.43%. McKesson’s payout ratio is currently 11.08%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MCK shares. Wells Fargo & Company lifted their target price on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Barclays lifted their target price on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Citigroup boosted their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley boosted their price target on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $596.00.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the sale, the chief executive officer now owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Britt J. Vitalone sold 12,752 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the transaction, the chief financial officer now owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at approximately $51,607,866.45. The disclosure for this sale can be found here. Insiders have sold 29,567 shares of company stock valued at $16,691,841 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

McKesson 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.