McKesson Corporation $MCK Stake Lifted by Arete Wealth Advisors LLC

Key Points

• Arete Wealth Advisors LLC increased its stake in McKesson Corporation by 83.5% in the first quarter, owning 2,733 shares valued at $1,839,000.
• The company recently announced a quarterly dividend increase to $0.82 per share, up from the previous $0.71, with a payment scheduled for October 1st.
• McKesson's shares have a current market capitalization of $86.63 billion and the stock has experienced a price range between $464.42 and $737.89 over the past year.

Arete Wealth Advisors LLC increased its stake in McKesson Corporation (NYSE:MCK - Free Report) by 83.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,733 shares of the company's stock after acquiring an additional 1,244 shares during the period. Arete Wealth Advisors LLC's holdings in McKesson were worth $1,839,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its holdings in shares of McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock valued at $3,056,000 after acquiring an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock worth $524,000 after buying an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in McKesson by 18.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock worth $15,501,000 after buying an additional 3,659 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock worth $123,332,000 after buying an additional 7,556 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in McKesson by 12.8% during the first quarter. LPL Financial LLC now owns 155,946 shares of the company's stock worth $104,950,000 after buying an additional 17,750 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other news, 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 transaction of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares in the company, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,560 shares of company stock worth $30,438,602 in the last quarter. Insiders own 0.08% of the company's stock.

McKesson Price Performance

Shares of MCK opened at $696.53 on Tuesday. The company has a market capitalization of $86.63 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The company's fifty day moving average price is $698.40 and its 200 day moving average price is $692.44.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 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 the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business's revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the business earned $7.88 EPS. 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. Investors of record on Tuesday, September 2nd will be issued a $0.82 dividend. This is a boost from McKesson's previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.5%. McKesson's payout ratio is 13.08%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MCK shares. Wells Fargo & Company raised their target price on shares of McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. Morgan Stanley restated an "overweight" rating and set a $810.00 target price (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Cowen restated a "buy" rating on shares of McKesson in a report on Thursday, August 7th. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Finally, Evercore ISI raised their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and a consensus 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.

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