MCF Advisors LLC Boosts Stock Position in McKesson Co. (NYSE:MCK)

MCF Advisors LLC raised its position in shares of McKesson Co. (NYSE:MCK) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 801 shares of the company’s stock after buying an additional 24 shares during the period. MCF Advisors LLC’s holdings in McKesson were worth $457,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Wolff Wiese Magana LLC boosted its position in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson during the third quarter worth $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the 3rd quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC raised its position in McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after acquiring an additional 28 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MCK has been the topic of several recent analyst reports. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Morgan Stanley raised their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Two investment 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 an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson Trading Down 1.2 %

NYSE:MCK opened at $585.51 on Wednesday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a fifty day moving average price of $594.65 and a 200 day moving average price of $561.08. The firm has a market cap of $74.32 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the firm earned $6.23 earnings per share. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. Equities analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by company insiders.

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.