Mercer Global Advisors Inc. ADV Buys 9,263 Shares of McKesson Co. (NYSE:MCK)

Mercer Global Advisors Inc. ADV boosted its stake in McKesson Co. (NYSE:MCK) by 16.5% in the second quarter, HoldingsChannel reports. The firm owned 65,412 shares of the company’s stock after acquiring an additional 9,263 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in McKesson were worth $38,176,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its stake in McKesson by 0.3% in the second quarter. Mutual of America Capital Management LLC now owns 20,394 shares of the company’s stock valued at $11,911,000 after purchasing an additional 63 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of McKesson in the 2nd quarter valued at $4,167,000. Moors & Cabot Inc. increased its position in shares of McKesson by 7.1% in the 2nd quarter. Moors & Cabot Inc. now owns 2,448 shares of the company’s stock valued at $1,430,000 after buying an additional 163 shares in the last quarter. WealthPLAN Partners LLC increased its position in shares of McKesson by 23.5% in the 2nd quarter. WealthPLAN Partners LLC now owns 1,363 shares of the company’s stock valued at $796,000 after buying an additional 259 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in McKesson by 88.6% during the second quarter. Citizens Financial Group Inc. RI now owns 1,858 shares of the company’s stock worth $1,086,000 after acquiring an additional 873 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $511.62 on Thursday. The stock’s 50-day simple moving average is $562.98 and its 200 day simple moving average is $557.34. McKesson Co. has a 52-week low of $428.50 and a 52-week high of $637.51. The company has a market cap of $66.48 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter in the prior year, the business posted $7.27 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts predict that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is 12.69%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the transaction, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 11,259 shares of company stock worth $6,635,492 in the last ninety days. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MCK. Mizuho increased their price target on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Robert W. Baird dropped their target price on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company reduced their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Citigroup reduced their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Finally, Argus upped their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $620.93.

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.