Cetera Advisors LLC Acquires 8,143 Shares of McKesson Co. (NYSE:MCK)

Cetera Advisors LLC grew its holdings in shares of McKesson Co. (NYSE:MCK) by 343.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 10,516 shares of the company’s stock after acquiring an additional 8,143 shares during the quarter. Cetera Advisors LLC’s holdings in McKesson were worth $5,645,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Intrust Bank NA purchased a new stake in McKesson during the 4th quarter valued at $206,000. Allspring Global Investments Holdings LLC raised its stake in shares of McKesson by 6.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after acquiring an additional 5,425 shares during the period. Heritage Wealth Management LLC purchased a new position in shares of McKesson during the 4th quarter worth about $1,538,000. Councilmark Asset Management LLC bought a new position in McKesson during the 1st quarter valued at about $5,160,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new stake in McKesson in the 4th quarter worth about $2,487,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MCK shares. Morgan Stanley raised their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. UBS Group boosted their target price on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. TD Cowen boosted their price objective on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Evercore ISI raised their target price on shares of McKesson from $600.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Finally, Argus boosted their price target on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $599.33.

McKesson Trading Up 0.2 %

Shares of MCK stock traded up $1.29 during trading hours on Friday, reaching $630.38. 881,722 shares of the company’s stock were exchanged, compared to its average volume of 666,040. The company has a market cap of $81.91 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 1.46 and a beta of 0.45. The stock’s 50 day moving average is $588.74 and its 200-day moving average is $546.69. McKesson Co. has a fifty-two week low of $404.72 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same period last year, the firm earned $7.19 earnings per share. McKesson’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts anticipate that McKesson Co. will post 31.68 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is 11.08%.

Insider Buying and Selling

In related news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the transaction, the chief executive officer now owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,567 shares of company stock worth $16,691,841. 0.11% of the stock is owned by company insiders.

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.