Capital Investment Advisors LLC Buys 834 Shares of McKesson Corporation $MCK

Key Points

• Capital Investment Advisors LLC increased its stake in McKesson Corporation by 31.2%, acquiring an additional 834 shares to hold a total of 3,506 shares valued at approximately $2,569,000.
• Insider trading activity revealed that both the CAO and CEO of McKesson sold shares totaling over $13 million recently, indicating a notable decrease in their ownership stakes.
• Analysts have raised their price targets for McKesson shares, with estimates now ranging from $850.00 to $864.00, and a majority maintaining a "buy" rating for the stock.

Capital Investment Advisors LLC raised its stake in McKesson Corporation (NYSE:MCK - Free Report) by 31.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,506 shares of the company's stock after acquiring an additional 834 shares during the period. Capital Investment Advisors LLC's holdings in McKesson were worth $2,569,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MCK. Nuveen LLC bought a new stake in McKesson in the first quarter valued at $475,235,000. Wellington Management Group LLP increased its stake in shares of McKesson by 4,559.6% in the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company's stock valued at $287,840,000 after buying an additional 418,524 shares in the last quarter. Boston Partners raised its holdings in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company's stock valued at $984,927,000 after buying an additional 365,484 shares during the last quarter. Voya Investment Management LLC lifted its position in McKesson by 92.3% during the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company's stock worth $437,760,000 after buying an additional 312,473 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in McKesson during the 1st quarter worth about $140,742,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm'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 value of $218,347.43. Following the completion of the transaction, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 19,371 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the transaction, the chief executive officer owned 27,872 shares of the company's stock, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,560 shares of company stock valued at $30,438,602. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Leerink Partners upped their price target on shares of McKesson from $785.00 to $850.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. TD Cowen upped their price target on shares of McKesson from $830.00 to $864.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. upped their price target on shares of McKesson from $821.00 to $853.00 and gave the stock an "overweight" rating in a research report on Friday, September 26th. Finally, Wall Street Zen upgraded shares of McKesson from a "hold" rating to a "buy" rating in a research report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $829.08.

McKesson Stock Up 1.4%

MCK stock opened at $772.61 on Wednesday. The business has a 50 day moving average price of $700.06 and a two-hundred day moving average price of $701.27. The company has a market cap of $96.10 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 1.37 and a beta of 0.51. McKesson Corporation has a twelve month low of $480.39 and a twelve month high of $774.85.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts' consensus estimates 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 net margin of 0.84% and a negative return on equity of 196.66%. 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 earnings per share. On average, equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 2nd. McKesson's dividend payout ratio is 13.08%.

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.

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