Ameliora Wealth Management Ltd. Makes New Investment in McKesson Co. (NYSE:MCK)

Ameliora Wealth Management Ltd. bought a new position in shares of McKesson Co. (NYSE:MCK) during the 3rd quarter, Holdings Channel.com reports. The fund bought 170 shares of the company’s stock, valued at approximately $84,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of McKesson in the 1st quarter worth approximately $28,000. Register Financial Advisors LLC acquired a new stake in shares of McKesson in the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new stake in McKesson in the 4th quarter valued at approximately $31,000. Rise Advisors LLC purchased a new stake in McKesson in the 1st quarter valued at approximately $40,000. Finally, ZRC Wealth Management LLC purchased a new stake in McKesson in the 1st quarter valued at approximately $48,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 0.1 %

Shares of MCK stock traded down $0.66 on Friday, reaching $505.59. 645,552 shares of the stock were exchanged, compared to its average volume of 808,514. The stock has a market cap of $65.69 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The firm has a 50 day moving average of $528.73 and a two-hundred day moving average of $552.97. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the prior year, the firm earned $7.27 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were issued a $0.71 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s dividend payout ratio is currently 12.69%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCK. Deutsche Bank Aktiengesellschaft reduced their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Argus upped their target price on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. increased their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Bank of America increased their price target on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by insiders.

McKesson Company 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.