Nations Financial Group Inc. IA ADV Grows Stock Position in McKesson Corporation $MCK

Nations Financial Group Inc. IA ADV increased its stake in shares of McKesson Corporation (NYSE:MCK) by 48.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600 shares of the company’s stock after purchasing an additional 195 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in McKesson were worth $404,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MCK. Capital A Wealth Management LLC purchased a new stake in shares of McKesson during the fourth quarter worth approximately $26,000. Bank of Jackson Hole Trust grew its holdings in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. Pandora Wealth Inc. acquired a new stake in shares of McKesson in the 1st quarter valued at $40,000. Finally, Dagco Inc. acquired a new stake in shares of McKesson in the 1st quarter valued at $47,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.1%

MCK stock opened at $672.86 on Monday. The company has a market capitalization of $83.69 billion, a P/E ratio of 26.83, a PEG ratio of 1.34 and a beta of 0.50. The business has a 50 day simple moving average of $709.57 and a 200-day simple moving average of $682.67. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. During the same quarter last year, the company earned $7.88 EPS. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. Research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. McKesson’s dividend payout ratio is 11.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $810.00 target price (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Wall Street Zen cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. Cowen reiterated a “buy” rating on shares of McKesson in a report on Thursday, August 7th. Wells Fargo & Company boosted their target price on McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, UBS Group upped their price target on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $719.27.

Insider Activity

In other news, CFO Britt J. Vitalone sold 6,336 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the transaction, the chief financial officer owned 14,760 shares of the company’s stock, valued at approximately $10,587,348. The trade was a 30.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 1,248 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the sale, the executive vice president owned 2,621 shares of the company’s stock, valued at $1,880,043.30. This trade represents a 32.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,274 shares of company stock valued at $37,066,715. Insiders own 0.08% of the company’s stock.

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.