Banco BTG Pactual S.A. Makes New $568,000 Investment in McKesson Corporation $MCK

Key Points

• Banco BTG Pactual S.A. has acquired 844 shares of McKesson Corporation, valued at approximately $568,000, as part of its new investment during the first quarter.
• CEO Brian S. Tyler sold 11,930 shares of McKesson stock for over $8 million, representing a 42.80% decrease in his holdings.
• McKesson recently declared a quarterly dividend of $0.82, an increase from its previous dividend of $0.71, marking a 0.5% yield for shareholders.

Banco BTG Pactual S.A. purchased a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 844 shares of the company's stock, valued at approximately $568,000.

A number of other large investors also recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. lifted its position in McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after acquiring an additional 222,496 shares during the period. GAMMA Investing LLC boosted its position in shares of McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after purchasing an additional 2,389,992 shares during the period. Northern Trust Corp boosted its position in shares of McKesson by 0.7% during the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company's stock worth $1,038,008,000 after acquiring an additional 10,179 shares during the last quarter. Boston Partners boosted its position in shares of McKesson by 33.3% during the first quarter. Boston Partners now owns 1,461,785 shares of the company's stock worth $984,927,000 after acquiring an additional 365,484 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of McKesson by 9.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,103,050 shares of the company's stock worth $628,639,000 after acquiring an additional 95,806 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of MCK traded down $18.2950 during midday trading on Friday, hitting $687.7050. The stock had a trading volume of 1,217,333 shares, compared to its average volume of 950,293. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The firm has a market cap of $85.54 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.40 and a beta of 0.50. The stock's 50 day moving average is $706.69 and its 200 day moving average is $684.60.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. The ex-dividend date is Tuesday, September 2nd. This is a boost from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. McKesson's dividend payout ratio (DPR) is currently 11.32%.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 2,891 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president directly owned 2,544 shares in the company, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Britt J. Vitalone sold 1,878 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the completion of the transaction, the chief financial officer owned 14,028 shares in the company, valued at approximately $10,070,841.48. The trade was a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,620 shares of company stock valued at $39,712,388. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MCK shares. Morgan Stanley restated an "overweight" rating and set a $810.00 target price (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Evercore ISI upped their target price on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Bank of America upped their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company upped their price target on shares of McKesson from $766.00 to $772.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 13th. Finally, UBS Group upped their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $725.10.

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.