EP Wealth Advisors LLC Increases Stock Position in McKesson Corporation $MCK

Key Points

• EP Wealth Advisors LLC increased its holdings in McKesson Corporation by 1.4% in Q1, now owning 26,502 shares valued at approximately $17.84 million.
• A significant insider, CEO Brian S. Tyler, sold 19,371 shares for over $13.7 million, representing a 41% decrease in his ownership.
• McKesson announced a quarterly dividend increase to $0.82 per share, reflecting an annualized yield of 0.5%, with the payment set for October 1st.

EP Wealth Advisors LLC grew its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 1.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 26,502 shares of the company's stock after acquiring an additional 377 shares during the period. EP Wealth Advisors LLC's holdings in McKesson were worth $17,835,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC raised its stake in shares of McKesson by 1,366.7% during 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 last quarter. Capital A Wealth Management LLC bought a new position in shares of McKesson during the fourth quarter valued at $26,000. Bank of Jackson Hole Trust raised its stake in shares of McKesson by 64.3% during 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 last quarter. Saudi Central Bank bought a new position in shares of McKesson during the first quarter valued at $34,000. Finally, Pandora Wealth Inc. bought a new position in McKesson during the first quarter worth $40,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Down 0.6%

NYSE:MCK traded down $4.42 during trading hours on Friday, reaching $687.03. The company had a trading volume of 472,767 shares, compared to its average volume of 808,316. The firm has a market cap of $85.46 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 1.37 and a beta of 0.51. The business's 50-day simple moving average is $699.12 and its two-hundred day simple moving average is $691.13. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89.

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

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.82 dividend. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. McKesson's payout ratio is presently 13.08%.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer owned 657 shares of the company's stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, 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. In the last ninety days, insiders sold 43,560 shares of company stock worth $30,438,602. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

MCK has been the subject of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 13th. Cowen reissued a "buy" rating on shares of McKesson in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Evercore ISI lifted their target price on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley reissued an "overweight" rating and set a $810.00 target price (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $725.10.

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.