SageView Advisory Group LLC Has $999,000 Holdings in McKesson Corporation $MCK

Key Points

• SageView Advisory Group LLC increased its holdings in McKesson Corporation by 44.5% during the first quarter, acquiring a total of 1,485 shares now valued at approximately $999,000.
• Analysts have mixed views on McKesson, with the company receiving a consensus rating of "Moderate Buy" and a price target of $725.10, as well as several recent upgrades to price targets from different firms.
• McKesson announced a dividend increase, raising its quarterly payout from $0.71 to $0.82, with an upcoming payment date set for October 1st.

SageView Advisory Group LLC lifted its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 44.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,485 shares of the company's stock after acquiring an additional 457 shares during the period. SageView Advisory Group LLC's holdings in McKesson were worth $999,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MCK. GAMMA Investing LLC increased its position in McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after buying an additional 2,389,992 shares during the period. Nuveen LLC acquired a new stake in McKesson in the first quarter worth $475,235,000. Wellington Management Group LLP increased its position in McKesson by 4,559.6% in the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company's stock worth $287,840,000 after buying an additional 418,524 shares during the period. Boston Partners increased its position in McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company's stock worth $984,927,000 after buying an additional 365,484 shares during the period. Finally, 1832 Asset Management L.P. acquired a new stake in McKesson in the first quarter worth $140,742,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 1.2%

MCK stock traded down $8.48 during trading hours on Friday, hitting $711.32. 522,385 shares of the stock traded hands, compared to its average volume of 704,488. The stock has a 50-day simple moving average of $697.81 and a 200 day simple moving average of $693.98. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The company has a market cap of $88.48 billion, a P/E ratio of 28.36, a P/E/G ratio of 1.43 and a beta of 0.51.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors 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. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. McKesson's dividend payout ratio is 13.08%.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction 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 owned 657 shares in the company, valued at $436,031.19. This trade represents 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 stock in a transaction 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 $19,735,884.48. This trade represents 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 valued at $30,438,602 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MCK shares. Wells Fargo & Company increased their target price on McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 13th. Cowen reissued a "buy" rating on shares of McKesson in a report on Thursday, August 7th. Morgan Stanley reissued an "overweight" rating and set a $810.00 price target (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Evercore ISI raised their price target on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, McKesson presently has an average rating of "Moderate Buy" and a consensus price target 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.