Banco BTG Pactual S.A. Makes New Investment in McKesson Corporation $MCK

Banco BTG Pactual S.A. bought a new position in shares of McKesson Corporation (NYSE:MCK) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 844 shares of the company’s stock, valued at approximately $568,000.

A number of other large investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC lifted its holdings 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 worth $30,000 after purchasing an additional 41 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $26,000. Bank of Jackson Hole Trust lifted its holdings in shares of McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after purchasing an additional 18 shares during the last quarter. Pandora Wealth Inc. bought a new stake in McKesson during the 1st quarter valued at $40,000. Finally, Dagco Inc. bought a new stake in McKesson during the 1st quarter valued at $47,000. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $677.76, for a total value of $8,085,676.80. Following the completion of the transaction, the chief executive officer owned 15,942 shares in the company, valued at $10,804,849.92. This trade represents a 42.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the transaction, the executive vice president owned 2,544 shares of the company’s stock, valued at $1,811,785.92. The trade was a 53.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,204 shares of company stock worth $45,152,392. 0.08% of the stock is currently owned by company insiders.

McKesson Price Performance

NYSE MCK opened at $676.8290 on Wednesday. The firm has a market cap of $84.18 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.33 and a beta of 0.50. The stock’s 50 day simple moving average is $708.26 and its 200 day simple moving average is $683.16. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The firm had revenue of $97.83 billion during 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 quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.88 earnings per share. As a group, equities analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. This is a positive change from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is 11.32%.

Analysts Set New Price Targets

Several brokerages have weighed in on MCK. Wells Fargo & Company lifted their target price on McKesson from $766.00 to $772.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 13th. UBS Group lifted their target price on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Thursday, August 7th. Evercore ISI boosted their price target on McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $810.00 price target (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $719.27.

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.