Sanctuary Advisors LLC Increases Stock Holdings in McKesson Co. (NYSE:MCK)

Sanctuary Advisors LLC boosted its stake in McKesson Co. (NYSE:MCK) by 25.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,487 shares of the company’s stock after acquiring an additional 5,790 shares during the quarter. Sanctuary Advisors LLC’s holdings in McKesson were worth $14,085,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MCK. Miracle Mile Advisors LLC boosted its stake in shares of McKesson by 55.8% during the 2nd quarter. Miracle Mile Advisors LLC now owns 874 shares of the company’s stock valued at $510,000 after buying an additional 313 shares during the last quarter. Everpar Advisors LLC acquired a new position in McKesson in the second quarter worth about $243,000. Raymond James & Associates raised its stake in McKesson by 4.4% during the second quarter. Raymond James & Associates now owns 164,559 shares of the company’s stock valued at $96,109,000 after buying an additional 6,944 shares in the last quarter. Williams Financial LLC acquired a new position in shares of McKesson in the 2nd quarter worth approximately $9,189,000. Finally, Chapin Davis Inc. increased its holdings in shares of McKesson by 51.5% in the 2nd quarter. Chapin Davis Inc. now owns 2,785 shares of the company’s stock valued at $1,627,000 after acquiring an additional 947 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

MCK stock opened at $576.58 on Friday. The firm has a market cap of $73.19 billion, a PE ratio of 29.86, a P/E/G ratio of 1.25 and a beta of 0.49. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The firm has a 50 day simple moving average of $564.01 and a 200 day simple moving average of $562.64.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.23 earnings per share. As a group, sell-side analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MCK shares. Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Leerink Partners cut their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Citigroup increased their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $643.43.

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.