Mercer Global Advisors Inc. ADV Has $38.18 Million Stake in McKesson Co. (NYSE:MCK)

Mercer Global Advisors Inc. ADV raised its position in shares of McKesson Co. (NYSE:MCK) by 16.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,412 shares of the company’s stock after purchasing an additional 9,263 shares during the quarter. Mercer Global Advisors Inc. ADV owned 0.05% of McKesson worth $38,176,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Sachetta LLC purchased a new stake in shares of McKesson during the fourth quarter worth $27,000. LRI Investments LLC acquired a new position in McKesson in the first quarter worth approximately $28,000. Register Financial Advisors LLC bought a new position in McKesson during the first quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in McKesson in the fourth quarter worth approximately $31,000. Finally, Carolinas Wealth Consulting LLC increased its stake in shares of McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $511.62 on Thursday. McKesson Co. has a 52 week low of $428.50 and a 52 week high of $637.51. The firm has a market cap of $66.48 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.18 and a beta of 0.44. The business’s fifty day moving average is $562.98 and its two-hundred day moving average is $557.34.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.27 EPS. On average, equities research analysts predict that McKesson Co. will post 32.11 earnings per share for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is 12.69%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Bank of America raised their price objective on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Evercore ISI lowered their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Leerink Partners dropped their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Finally, Citigroup decreased their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is currently owned by corporate insiders.

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.