Sequoia Financial Advisors LLC Has $6.59 Million Holdings in McKesson Corporation $MCK

Sequoia Financial Advisors LLC lifted its holdings in shares of McKesson Corporation (NYSE:MCK) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,988 shares of the company’s stock after purchasing an additional 292 shares during the period. Sequoia Financial Advisors LLC’s holdings in McKesson were worth $6,587,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Jackson Hole Trust lifted its holdings in McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares during the period. CBIZ Investment Advisory Services LLC lifted its holdings in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after buying an additional 41 shares during the period. GFG Capital LLC acquired a new position in McKesson in the second quarter valued at $30,000. Saudi Central Bank acquired a new position in McKesson in the first quarter valued at $34,000. Finally, Flaharty Asset Management LLC acquired a new position in McKesson in the first quarter valued at $39,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $768.79 on Tuesday. The firm has a 50-day moving average of $708.64 and a 200-day moving average of $707.37. The company has a market cap of $95.62 billion, a PE ratio of 30.65, a PEG ratio of 1.38 and a beta of 0.52. McKesson Corporation has a one year low of $492.39 and a one year high of $776.14.

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

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a boost from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is presently 13.08%.

Analyst Ratings Changes

MCK has been the topic of several recent analyst reports. Bank of America boosted their target price on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company lifted their price target on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. Leerink Partners lifted their price target on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. Finally, Mizuho lifted their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $834.54.

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction 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. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is currently owned by insiders.

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.