Sage Mountain Advisors LLC Buys 685 Shares of McKesson Co. (NYSE:MCK)

Sage Mountain Advisors LLC increased its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 103.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,345 shares of the company's stock after acquiring an additional 685 shares during the period. Sage Mountain Advisors LLC's holdings in McKesson were worth $766,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MCK. CWA Asset Management Group LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $416,000. Assetmark Inc. grew its holdings in McKesson by 10.8% during the third quarter. Assetmark Inc. now owns 6,884 shares of the company's stock worth $3,403,000 after purchasing an additional 670 shares during the period. Axxcess Wealth Management LLC increased its position in McKesson by 198.7% during the third quarter. Axxcess Wealth Management LLC now owns 2,055 shares of the company's stock worth $1,016,000 after buying an additional 1,367 shares during the last quarter. Baker Avenue Asset Management LP raised its stake in McKesson by 34.5% in the third quarter. Baker Avenue Asset Management LP now owns 557 shares of the company's stock valued at $276,000 after buying an additional 143 shares during the period. Finally, Chartwell Investment Partners LLC bought a new stake in McKesson in the third quarter valued at approximately $3,856,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,689 shares of company stock valued at $11,187,351. Corporate insiders own 0.11% of the company's stock.

McKesson Trading Down 0.8 %

Shares of MCK stock opened at $653.54 on Wednesday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $663.61. The firm has a market capitalization of $81.91 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The firm has a fifty day simple moving average of $604.12 and a two-hundred day simple moving average of $568.96.

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McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MCK shares. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 target price on the stock. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company raised their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Citigroup cut their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $645.79.

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.

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