SOA Wealth Advisors LLC. Invests $121,000 in McKesson Corporation $MCK

SOA Wealth Advisors LLC. purchased a new position in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 165 shares of the company’s stock, valued at approximately $121,000.

Other hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its stake in shares of McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company’s stock worth $3,056,000 after purchasing an additional 1,592 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of McKesson by 16.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock worth $524,000 after acquiring an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of McKesson by 18.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock worth $15,501,000 after acquiring an additional 3,659 shares during the period. Acadian Asset Management LLC grew its holdings in McKesson by 22.0% during the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after purchasing an additional 68,294 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock valued at $123,332,000 after purchasing an additional 7,556 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,560 shares of company stock valued at $30,438,602. Company insiders own 0.08% of the company’s stock.

McKesson Trading Down 0.7%

Shares of NYSE MCK opened at $759.65 on Friday. The stock has a market capitalization of $94.49 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.37 and a beta of 0.52. The stock’s fifty day simple moving average is $702.08 and its two-hundred day simple moving average is $702.43. McKesson Corporation has a 12-month low of $480.39 and a 12-month high of $776.14.

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

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.82 per share. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is 13.08%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MCK. UBS Group boosted their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company boosted their target price on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. TD Cowen upped their price objective on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Bank of America upped their price objective on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Leerink Partners upped their target price on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $829.08.

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.