SageView Advisory Group LLC Acquires Shares of 1,450 McKesson Co. (NYSE:MCK)

SageView Advisory Group LLC acquired a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,450 shares of the company’s stock, valued at approximately $710,000.

A number of other institutional investors have also modified their holdings of MCK. Addison Advisors LLC grew its position in shares of McKesson by 7.9% during the 4th quarter. Addison Advisors LLC now owns 299 shares of the company’s stock valued at $138,000 after acquiring an additional 22 shares during the period. Evergreen Wealth Solutions LLC grew its position in shares of McKesson by 1.2% during the 4th quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock valued at $894,000 after acquiring an additional 22 shares during the period. Keystone Financial Services grew its position in shares of McKesson by 2.1% during the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after acquiring an additional 24 shares during the period. Austin Private Wealth LLC grew its position in shares of McKesson by 2.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock valued at $506,000 after acquiring an additional 27 shares during the period. Finally, Quent Capital LLC grew its position in shares of McKesson by 2.2% during the 4th quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock valued at $574,000 after acquiring an additional 27 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.5 %

Shares of NYSE MCK opened at $560.73 on Monday. The firm has a market cap of $72.89 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.31 and a beta of 0.45. McKesson Co. has a 52-week low of $373.28 and a 52-week high of $566.16. The business’s 50 day moving average is $538.64 and its two-hundred day moving average is $503.18.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.19 EPS. Analysts anticipate that McKesson Co. will post 31.57 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio is currently 11.08%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MCK shares. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Robert W. Baird lifted their price objective on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Morgan Stanley boosted their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Wells Fargo & Company boosted their target price on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Finally, Mizuho boosted their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $571.47.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,080 shares of company stock valued at $2,160,489. 0.21% of the stock is currently owned by company insiders.

McKesson Company 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.