WPG Advisers LLC Buys Shares of 408 McKesson Corporation $MCK

Key Points

• WPG Advisers LLC acquired a new position in McKesson Corporation, purchasing 408 shares valued at approximately $275,000 during the first quarter.
• McKesson is increasing its quarterly dividend from $0.71 to $0.82, with a payment scheduled for October 1st and a dividend yield of 0.5%.
• Shares of McKesson opened at $681.38 and had a market cap of $84.75 billion, following recent positive price target revisions from analysts.

WPG Advisers LLC acquired a new position in McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 408 shares of the company's stock, valued at approximately $275,000.

Several other institutional investors also recently bought and sold shares of the company. Tema Etfs LLC acquired a new stake in McKesson in the 1st quarter worth about $1,059,000. Tri Locum Partners LP acquired a new stake in McKesson in the 1st quarter worth about $18,133,000. OMERS ADMINISTRATION Corp boosted its holdings in McKesson by 2.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 7,630 shares of the company's stock worth $5,135,000 after buying an additional 196 shares during the last quarter. Eisler Capital Management Ltd. acquired a new stake in McKesson in the 1st quarter worth about $225,000. Finally, B. Metzler seel. Sohn & Co. AG boosted its holdings in McKesson by 10.4% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 4,694 shares of the company's stock worth $3,159,000 after buying an additional 444 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MCK shares. Morgan Stanley reiterated an "overweight" rating and issued a $810.00 price objective (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Bank of America lifted 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. Evercore ISI boosted their target price on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Wells Fargo & Company boosted their target price on McKesson from $766.00 to $772.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. Finally, Cowen restated a "buy" rating on shares of McKesson in a report on Thursday, August 7th. One equities research 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $725.10.

McKesson Price Performance

Shares of MCK stock traded up $5.42 during trading on Friday, hitting $686.44. 880,317 shares of the stock traded hands, compared to its average volume of 980,199. The firm has a market capitalization of $85.38 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 1.37 and a beta of 0.51. The firm's fifty day moving average price is $702.44 and its 200-day moving average price is $688.57. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm's quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.88 EPS. As a group, equities research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

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

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson 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 sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,930 shares of company stock worth $44,112,466. Corporate insiders own 0.08% of the company's stock.

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.