Level Four Advisory Services LLC Buys 867 Shares of McKesson Corporation $MCK

Key Points

• Level Four Advisory Services LLC increased its holdings in McKesson Corporation by 6.1% during the first quarter, now owning 15,027 shares valued at approximately $10.11 million.
• McKesson recently announced a quarterly dividend increase to $0.82 per share, payable on October 1st, representing an annualized dividend of $3.28 and a yield of 0.5%.
• The company's stock has a market capitalization of $84.18 billion and reported a revenue of $97.83 billion for the last quarter, surpassing analyst expectations.

Level Four Advisory Services LLC grew its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,027 shares of the company's stock after buying an additional 867 shares during the period. Level Four Advisory Services LLC's holdings in McKesson were worth $10,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. GAMMA Investing LLC increased its position in shares of McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after buying an additional 2,389,992 shares during the period. Nuveen LLC bought a new stake in shares of McKesson during the first quarter valued at about $475,235,000. Farallon Capital Management LLC bought a new stake in shares of McKesson during the fourth quarter valued at about $348,044,000. Wellington Management Group LLP increased its position in shares of McKesson by 4,559.6% during 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 during the period. Finally, Boston Partners increased 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 valued at $984,927,000 after buying an additional 365,484 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

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. The company has a market cap of $85.54 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 1.40 and a beta of 0.50. The business has a fifty day moving average of $706.69 and a 200 day moving average of $684.60. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89.

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 firm 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 firm's quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company earned $7.88 EPS. On average, equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced 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 an increase 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 currently 11.32%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 341 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the completion of the sale, the executive vice president owned 2,800 shares in the company, valued at approximately $2,010,148. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares of the company's stock, valued at $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,620 shares of company stock valued at $39,712,388. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

MCK has been the subject of several recent analyst reports. Bank of America boosted their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. UBS Group boosted their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley reissued an "overweight" rating and set a $810.00 price objective (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Finally, Evercore ISI boosted their price objective on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $725.10.

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.