SGL Investment Advisors Inc. Acquires Shares of 1,264 McKesson Co. (NYSE:MCK)

SGL Investment Advisors Inc. purchased a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,264 shares of the company's stock, valued at approximately $752,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. T. Rowe Price Investment Management Inc. boosted its stake in shares of McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after acquiring an additional 222,496 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after buying an additional 10,015 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after buying an additional 114,396 shares in the last quarter. Norges Bank purchased a new stake in McKesson in the 4th quarter worth $1,200,361,000. Finally, Northern Trust Corp raised its holdings in McKesson by 9.0% during the fourth quarter. Northern Trust Corp now owns 1,532,203 shares of the company's stock valued at $873,218,000 after acquiring an additional 126,940 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Bank of America increased their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wells Fargo & Company boosted their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Finally, Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $686.69.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of McKesson stock traded up $1.87 during trading hours on Monday, reaching $726.05. The company's stock had a trading volume of 785,862 shares, compared to its average volume of 916,487. The firm has a 50 day moving average price of $683.14 and a 200-day moving average price of $628.50. McKesson Co. has a one year low of $464.42 and a one year high of $728.48. The stock has a market cap of $90.84 billion, a P/E ratio of 33.24, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same period in the previous year, the firm posted $6.18 EPS. The business's quarterly revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's payout ratio is 10.99%.

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.