Sage Mountain Advisors LLC Grows Holdings in McKesson Corporation $MCK

Sage Mountain Advisors LLC increased its position in McKesson Corporation (NYSE:MCK) by 11.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,384 shares of the company’s stock after acquiring an additional 141 shares during the quarter. Sage Mountain Advisors LLC’s holdings in McKesson were worth $1,014,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in MCK. Brighton Jones LLC grew its holdings in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares in the last quarter. GAMMA Investing LLC raised its stake in McKesson by 12.5% during the first quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock valued at $2,393,000 after purchasing an additional 396 shares in the last quarter. Golden State Equity Partners raised its stake in McKesson by 11.3% during the first quarter. Golden State Equity Partners now owns 671 shares of the company’s stock valued at $452,000 after purchasing an additional 68 shares in the last quarter. Pure Financial Advisors LLC lifted its position in McKesson by 27.5% in the first quarter. Pure Financial Advisors LLC now owns 1,010 shares of the company’s stock worth $680,000 after buying an additional 218 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in McKesson by 24.1% in the first quarter. Sequoia Financial Advisors LLC now owns 8,696 shares of the company’s stock worth $5,852,000 after buying an additional 1,688 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on MCK shares. Bank of America raised their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Deutsche Bank Aktiengesellschaft raised their price target on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Jefferies Financial Group lifted their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Wells Fargo & Company lifted 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. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $834.54.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,189 shares of company stock valued at $16,722,190. Insiders own 0.08% of the company’s stock.

McKesson Trading Up 1.2%

NYSE:MCK opened at $802.17 on Friday. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $807.75. The company has a market cap of $99.77 billion, a price-to-earnings ratio of 31.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. The stock has a fifty day simple moving average of $728.97 and a 200-day simple moving average of $713.82.

McKesson (NYSE:MCK) last released 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 business had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.88 earnings per share. As a group, equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is currently 13.08%.

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.