Nadler Financial Group Inc. Buys Shares of 290 McKesson Corporation $MCK

Nadler Financial Group Inc. bought a new stake in McKesson Corporation (NYSE:MCK) in the second quarter, HoldingsChannel reports. The fund bought 290 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust grew its stake in McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares during the period. CBIZ Investment Advisory Services LLC grew its stake in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares during the period. GFG Capital LLC bought a new stake in shares of McKesson in the second quarter valued at about $30,000. Saudi Central Bank bought a new stake in shares of McKesson in the first quarter valued at about $34,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of McKesson in the first quarter valued at about $39,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research reports. Citigroup boosted their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Cowen restated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. TD Cowen boosted their price target on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Finally, Mizuho boosted their price target on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $834.54.

McKesson Stock Performance

MCK opened at $768.79 on Tuesday. McKesson Corporation has a 52-week low of $492.39 and a 52-week high of $776.14. The firm has a market capitalization of $95.62 billion, a PE ratio of 30.65, a PEG ratio of 1.38 and a beta of 0.52. The business’s 50-day simple moving average is $708.64 and its 200 day simple moving average is $707.37.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the previous year, the company posted $7.88 EPS. The business’s revenue was up 23.4% on a year-over-year basis. On average, research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. The ex-dividend date was Tuesday, September 2nd. This is a boost from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is currently 13.08%.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,189 shares of company stock worth $16,722,190 in the last quarter. 0.08% of the stock is currently 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.