Investors Asset Management of Georgia Inc. GA ADV Lowers Stock Position in McKesson Corporation $MCK

Investors Asset Management of Georgia Inc. GA ADV cut its position in shares of McKesson Corporation (NYSE:MCK) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,488 shares of the company’s stock after selling 66 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in McKesson were worth $1,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Oppenheimer Asset Management Inc. boosted its position in McKesson by 54.0% during the 1st 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 period. Dynamic Advisor Solutions LLC lifted its stake in shares of McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock worth $524,000 after purchasing an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake 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 valued at $15,501,000 after buying an additional 3,659 shares in the last quarter. Acadian Asset Management LLC grew its position in McKesson by 22.0% in the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after acquiring an additional 68,294 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock worth $123,332,000 after acquiring an additional 7,556 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

MCK opened at $738.00 on Monday. The company has a market capitalization of $91.79 billion, a PE ratio of 29.43, a P/E/G ratio of 1.32 and a beta of 0.52. The stock’s fifty day moving average is $702.60 and its 200-day moving average is $703.48. McKesson Corporation has a one year low of $480.39 and a one year high of $776.14.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The firm 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 company’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the business earned $7.88 EPS. On average, equities research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. This is an increase from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is presently 13.08%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred 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 transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,560 shares of company stock valued at $30,438,602. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MCK shares. Evercore ISI lifted their price target on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Wells Fargo & Company lifted their price objective on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a research report on Saturday, September 27th. Citigroup boosted their price objective on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Mizuho increased their price objective on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, McKesson 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.