Wealthfront Advisers LLC Has $20 Million Stake in McKesson Corporation $MCK

Wealthfront Advisers LLC increased its stake in shares of McKesson Corporation (NYSE:MCK) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,286 shares of the company’s stock after purchasing an additional 1,816 shares during the quarter. Wealthfront Advisers LLC’s holdings in McKesson were worth $19,995,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Brighton Jones LLC boosted its stake in shares of 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 during the period. GAMMA Investing LLC increased its stake in shares of McKesson by 12.5% in the first quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock worth $2,393,000 after acquiring an additional 396 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of McKesson by 24.1% during the first quarter. Sequoia Financial Advisors LLC now owns 8,696 shares of the company’s stock worth $5,852,000 after acquiring an additional 1,688 shares in the last quarter. Perpetual Ltd boosted its position in McKesson by 24.0% during the first quarter. Perpetual Ltd now owns 2,401 shares of the company’s stock valued at $1,616,000 after purchasing an additional 464 shares during the last quarter. Finally, Transcend Capital Advisors LLC boosted its position in McKesson by 19.8% during the first quarter. Transcend Capital Advisors LLC now owns 1,161 shares of the company’s stock valued at $781,000 after purchasing an additional 192 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK stock opened at $802.17 on Friday. The stock’s 50 day simple moving average is $728.97 and its 200 day simple moving average is $714.24. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $807.75. The company has a market capitalization of $99.77 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 1.44 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same period in the previous year, the company earned $7.88 EPS. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley upped their target price on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. boosted their price target on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Wells Fargo & Company increased their price objective on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Finally, Citigroup boosted their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One equities research 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 stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $834.54.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value 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. This trade represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock worth $16,722,190 in the last quarter. Insiders own 0.08% of the company’s stock.

McKesson 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.