Sequoia Financial Advisors LLC Has $3.72 Million Stock Position in McKesson Co. (NYSE:MCK)

Sequoia Financial Advisors LLC increased its holdings in McKesson Co. (NYSE:MCK) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,368 shares of the company’s stock after purchasing an additional 143 shares during the period. Sequoia Financial Advisors LLC’s holdings in McKesson were worth $3,719,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Cerity Partners LLC lifted its position in shares of McKesson by 15.9% during the fourth quarter. Cerity Partners LLC now owns 35,091 shares of the company’s stock worth $16,258,000 after purchasing an additional 4,801 shares in the last quarter. Sapient Capital LLC bought a new position in shares of McKesson in the fourth quarter valued at $276,000. Valeo Financial Advisors LLC increased its stake in shares of McKesson by 3.8% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,243 shares of the company’s stock worth $575,000 after purchasing an additional 45 shares during the last quarter. Graypoint LLC grew its holdings in McKesson by 14.5% during the fourth quarter. Graypoint LLC now owns 781 shares of the company’s stock worth $362,000 after purchasing an additional 99 shares during the period. Finally, WCM Investment Management LLC boosted its position in McKesson by 0.4% during the fourth quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock worth $500,134,000 after purchasing an additional 4,636 shares during the period. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Evercore ISI decreased their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company raised their price objective on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Barclays raised their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. TD Cowen increased their price objective on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Mizuho raised their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $609.79.

McKesson Price Performance

NYSE MCK traded up $2.05 during trading hours on Tuesday, hitting $553.05. 219,746 shares of the company’s stock traded hands, compared to its average volume of 735,394. The firm’s 50-day moving average is $591.00 and its 200-day moving average is $551.49. The company has a market capitalization of $71.86 billion, a PE ratio of 24.62, a PEG ratio of 1.46 and a beta of 0.45. McKesson Co. has a 52-week low of $404.72 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $7.27 earnings per share. Equities research analysts predict that McKesson Co. will post 31.68 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.51%. McKesson’s payout ratio is 12.69%.

Insider Buying and Selling at McKesson

In related news, Director Maria Martinez sold 483 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McKesson news, EVP Leann B. Smith sold 704 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the sale, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Maria Martinez sold 483 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The disclosure for this sale can be found here. Insiders have sold 32,713 shares of company stock worth $18,702,605 over the last quarter. 0.11% of the stock is owned by corporate insiders.

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.