SGL Investment Advisors Inc. Invests $752,000 in McKesson Co. (NYSE:MCK)

SGL Investment Advisors Inc. bought a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,264 shares of the company’s stock, valued at approximately $752,000.

Other institutional investors also recently added to or reduced their stakes in the company. Cibc World Market Inc. grew its stake in shares of McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after purchasing an additional 1,207 shares in the last quarter. Brentview Investment Management LLC purchased a new stake in McKesson during the 4th quarter worth about $3,018,000. Ingalls & Snyder LLC boosted its position in shares of McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after acquiring an additional 1,047 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of McKesson by 85.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company’s stock valued at $745,000 after acquiring an additional 580 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of McKesson by 6.4% during the 4th quarter. Blue Trust Inc. now owns 7,830 shares of the company’s stock worth $4,462,000 after acquiring an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $705.78 on Friday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.48. The firm has a 50-day simple moving average of $681.75 and a 200-day simple moving average of $625.19. The company has a market capitalization of $88.45 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm’s revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $6.18 EPS. Equities research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson’s dividend payout ratio is currently 10.99%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.11% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCK. Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Wells Fargo & Company lifted their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Finally, UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $686.69.

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.