McKesson Co. (NYSE:MCK) Shares Acquired by Aviance Capital Partners LLC

Aviance Capital Partners LLC raised its position in shares of McKesson Co. (NYSE:MCK) by 31.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 820 shares of the company’s stock after buying an additional 197 shares during the quarter. Aviance Capital Partners LLC’s holdings in McKesson were worth $405,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in McKesson during the third quarter worth $29,000. Thrivent Financial for Lutherans raised its holdings in shares of McKesson by 5.8% during the third quarter. Thrivent Financial for Lutherans now owns 20,142 shares of the company’s stock worth $9,964,000 after purchasing an additional 1,106 shares during the period. Claro Advisors LLC lifted its position in shares of McKesson by 11.6% in the 3rd quarter. Claro Advisors LLC now owns 2,388 shares of the company’s stock worth $1,180,000 after buying an additional 248 shares during the last quarter. AM Squared Ltd bought a new stake in shares of McKesson during the 3rd quarter valued at about $99,000. Finally, Kinsale Capital Group Inc. raised its stake in McKesson by 15.1% during the third quarter. Kinsale Capital Group Inc. now owns 10,717 shares of the company’s stock worth $5,299,000 after acquiring an additional 1,407 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MCK. Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Barclays lifted their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Stock Down 0.0 %

Shares of MCK stock opened at $615.47 on Wednesday. The stock has a 50-day simple moving average of $524.33 and a 200 day simple moving average of $555.78. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock has a market capitalization of $78.13 billion, a P/E ratio of 31.87, a P/E/G ratio of 1.31 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping 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 company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the company posted $6.23 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. On average, sell-side analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.