Global Assets Advisory LLC Takes Position in McKesson Corporation $MCK

Key Points

• Global Assets Advisory LLC has acquired a new position in McKesson Corporation, purchasing 444 shares valued at approximately $323,000 in the second quarter.
• McKesson's stock has seen a recent increase, trading at $740.82 with a market capitalization of $92.14 billion.
• The company recently raised its quarterly dividend to $0.82, up from $0.71, reflecting a commitment to returning value to shareholders.

Global Assets Advisory LLC purchased a new position in McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 444 shares of the company's stock, valued at approximately $323,000.

Other large investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its position in shares of McKesson by 54.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock worth $3,056,000 after acquiring an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC grew its stake in McKesson by 16.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock worth $524,000 after purchasing an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in McKesson by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock worth $15,501,000 after purchasing an additional 3,659 shares in the last quarter. Acadian Asset Management LLC lifted its position in McKesson by 22.0% during the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company's stock valued at $254,979,000 after buying an additional 68,294 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of McKesson by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after buying an additional 7,556 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 0.4%

MCK opened at $740.82 on Tuesday. The stock has a market capitalization of $92.14 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 1.32 and a beta of 0.52. The firm has a 50 day moving average price of $703.30 and a 200-day moving average price of $704.05. McKesson Corporation has a twelve month low of $482.44 and a twelve month high of $776.14.

McKesson (NYSE:MCK - Get Free Report) last issued 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). The company had revenue of $97.83 billion during the quarter, compared to analysts' expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company'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 posted $7.88 EPS. As a group, analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.82 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson's dividend payout ratio is presently 13.08%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 19,371 shares of the firm's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the transaction, the chief executive officer directly owned 27,872 shares of the company's stock, valued at approximately $19,735,884.48. This trade represents a 41.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business's 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. This represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,560 shares of company stock worth $30,438,602. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MCK shares. Cowen reiterated a "buy" rating on shares of McKesson in a research note on Wednesday, September 24th. UBS Group raised their target price on shares of McKesson from $820.00 to $860.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Bank of America lifted their price objective on McKesson from $800.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Finally, Wall Street Zen raised shares of McKesson from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and a consensus target price of $829.08.

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.

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