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

Sanctuary Advisors LLC increased its stake in McKesson Co. (NYSE:MCK - Free Report) by 25.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,487 shares of the company's stock after purchasing 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 quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC lifted its stake in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson in the third quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the third quarter worth about $31,000. ORG Wealth Partners LLC bought a new stake in McKesson during the 3rd quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in McKesson in the 2nd quarter worth approximately $52,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares of the company's stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.

McKesson Trading Down 0.5 %

MCK traded down $3.05 on Friday, hitting $576.24. 509,590 shares of the company's stock were exchanged, compared to its average volume of 816,910. The firm has a 50-day moving average price of $564.01 and a 200-day moving average price of $562.64. The stock has a market cap of $73.15 billion, a price-to-earnings ratio of 29.86, a P/E/G ratio of 1.25 and a beta of 0.49. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the firm earned $6.23 EPS. McKesson's revenue was up 21.3% on a year-over-year basis. On average, equities analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is 14.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCK. JPMorgan Chase & Co. increased their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. StockNews.com upgraded shares of McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Citigroup increased their price objective on shares of McKesson from $630.00 to $713.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Leerink Partners reduced their price objective on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. Finally, Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $643.43.

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.