Private Advisor Group LLC Increases Position in McKesson Corporation (MCK)

Private Advisor Group LLC increased its stake in shares of McKesson Corporation (NYSE:MCK) by 19.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,660 shares of the company’s stock after acquiring an additional 907 shares during the quarter. Private Advisor Group LLC’s holdings in McKesson were worth $840,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. National Planning Corp increased its position in McKesson by 13.0% during the third quarter. National Planning Corp now owns 3,606 shares of the company’s stock worth $555,000 after acquiring an additional 415 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD. bought a new position in McKesson during the third quarter worth $6,229,000. Mackenzie Financial Corp increased its position in McKesson by 21.5% during the third quarter. Mackenzie Financial Corp now owns 558,993 shares of the company’s stock worth $85,867,000 after acquiring an additional 98,815 shares during the period. Tredje AP fonden increased its position in McKesson by 18.4% during the third quarter. Tredje AP fonden now owns 27,938 shares of the company’s stock worth $4,301,000 after acquiring an additional 4,340 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its position in McKesson by 67.5% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 5,674 shares of the company’s stock worth $872,000 after acquiring an additional 2,287 shares during the period. 88.10% of the stock is currently owned by institutional investors and hedge funds.

In other McKesson news, CEO John H. Hammergren sold 100,000 shares of McKesson stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $155.30, for a total value of $15,530,000.00. Following the transaction, the chief executive officer now directly owns 165,000 shares in the company, valued at $25,624,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman John H. Hammergren sold 225,000 shares of McKesson stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $151.67, for a total transaction of $34,125,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 949,000 shares of company stock worth $145,263,360. 1.20% of the stock is currently owned by company insiders.

Shares of McKesson Corporation (MCK) opened at $152.57 on Friday. McKesson Corporation has a 52 week low of $133.82 and a 52 week high of $169.29. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The company has a market cap of $31,273.26, a price-to-earnings ratio of 12.34, a PEG ratio of 1.54 and a beta of 1.23.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.50. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The firm had revenue of $52.06 billion for the quarter, compared to analyst estimates of $51.69 billion. During the same period last year, the business earned $2.94 EPS. McKesson’s revenue for the quarter was up 4.2% compared to the same quarter last year. sell-side analysts expect that McKesson Corporation will post 12.17 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.89%. McKesson’s dividend payout ratio is presently 6.45%.

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $173.00 price target (down previously from $178.00) on shares of McKesson in a research note on Wednesday, November 1st. Jefferies Group set a $165.00 price target on shares of McKesson and gave the stock a “hold” rating in a research note on Wednesday, October 18th. ValuEngine upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. BidaskClub downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Finally, TheStreet downgraded shares of McKesson from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $174.31.

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About McKesson

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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