SageView Advisory Group LLC Makes New Investment in McKesson Co. (NYSE:MCK)

SageView Advisory Group LLC bought a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,450 shares of the company’s stock, valued at approximately $710,000.

A number of other large investors have also added to or reduced their stakes in MCK. Norges Bank purchased a new position in shares of McKesson during the 4th quarter worth $1,024,140,000. International Assets Investment Management LLC boosted its stake in shares of McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after acquiring an additional 749,504 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of McKesson by 202.8% during the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock worth $278,778,000 after acquiring an additional 403,312 shares during the last quarter. Morgan Stanley boosted its stake in shares of McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after acquiring an additional 294,832 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of McKesson by 92.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock worth $246,969,000 after acquiring an additional 272,266 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Susan R. Salka sold 606 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Britt J. Vitalone sold 894 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total transaction of $498,315.60. Following the completion of the sale, the chief financial officer now directly owns 16,455 shares of the company’s stock, valued at approximately $9,172,017. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,814 shares of company stock worth $14,511,649. Insiders own 0.21% of the company’s stock.

McKesson Trading Up 1.3 %

Shares of NYSE:MCK opened at $597.45 on Tuesday. The company has a market capitalization of $77.66 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.38 and a beta of 0.47. McKesson Co. has a 12 month low of $395.30 and a 12 month high of $598.75. The firm’s 50-day moving average is $552.34 and its 200 day moving average is $516.61.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.19 earnings per share. As a group, equities analysts forecast that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.42%. McKesson’s payout ratio is 11.08%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. TD Cowen lifted their target price on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Wells Fargo & Company lifted their target price on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Finally, Morgan Stanley lifted their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $571.47.

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.