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

Cetera Advisors LLC boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 343.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 10,516 shares of the company’s stock after acquiring an additional 8,143 shares during the period. Cetera Advisors LLC’s holdings in McKesson were worth $5,645,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. Norges Bank acquired a new position in shares of McKesson in the 4th quarter valued at $1,024,140,000. Swedbank AB bought a new stake in shares of McKesson during the first quarter worth $669,326,000. International Assets Investment Management LLC lifted its position in McKesson by 1,044.5% in the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after acquiring an additional 749,504 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of McKesson by 202.8% in the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after purchasing an additional 403,312 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of McKesson by 3,621.7% during the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after buying an additional 340,007 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.2 %

Shares of McKesson stock traded up $1.29 on Friday, hitting $630.38. The stock had a trading volume of 881,722 shares, compared to its average volume of 666,040. The stock has a market cap of $81.91 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 1.46 and a beta of 0.45. The business’s 50 day moving average is $588.74 and its two-hundred day moving average is $546.69. McKesson Co. has a twelve month low of $404.72 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter in the previous year, the business earned $7.19 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts predict that McKesson Co. will post 31.68 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

Insider Activity

In other McKesson news, EVP Thomas L. Rodgers sold 789 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total transaction of $439,788.60. Following the transaction, the executive vice president now owns 7,909 shares in the company, valued at approximately $4,408,476.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Britt J. Vitalone sold 12,752 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the sale, the chief financial officer now owns 14,028 shares in the company, valued at approximately $7,828,886.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas L. Rodgers sold 789 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the transaction, the executive vice president now owns 7,909 shares of the company’s stock, valued at $4,408,476.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,567 shares of company stock worth $16,691,841. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Citigroup upped their price target on McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 23rd. Robert W. Baird increased their price objective on shares of McKesson from $679.00 to $694.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Barclays lifted their target price on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Finally, Argus increased their price target on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $599.33.

About McKesson

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.