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

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the 4th quarter worth about $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson in the fourth quarter valued at about $33,000. Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC purchased a new position in shares of McKesson during the 4th quarter worth approximately $38,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Up 3.4%

NYSE:MCK opened at $705.78 on Friday. The company has a market cap of $88.45 billion, a P/E ratio of 32.32, a P/E/G ratio of 1.29 and a beta of 0.53. The firm’s 50 day moving average is $681.75 and its two-hundred day moving average is $625.19. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.48.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the company posted $6.18 EPS. Research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio (DPR) is presently 10.99%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on MCK. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. UBS Group upped their target price on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Bank of America lifted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price 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.