Avion Wealth Boosts Stake in McKesson Co. (NYSE:MCK)

Avion Wealth lifted its holdings in McKesson Co. (NYSE:MCK) by 47.1% in the fourth quarter, HoldingsChannel reports. The firm owned 306 shares of the company’s stock after purchasing an additional 98 shares during the quarter. Avion Wealth’s holdings in McKesson were worth $174,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Old North State Trust LLC lifted its stake in McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after purchasing an additional 18 shares in the last quarter. Trust Co. of Vermont lifted its position in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after buying an additional 18 shares in the last quarter. Black Diamond Financial LLC boosted its stake in McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after buying an additional 19 shares during the last quarter. QV Investors Inc. grew its holdings in McKesson by 0.6% in the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock valued at $1,730,000 after buying an additional 20 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its stake in shares of McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MCK shares. Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Bank of America decreased their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, McKesson has a consensus rating of “Buy” and an average target price of $645.79.

McKesson Stock Up 1.2 %

Shares of MCK opened at $610.57 on Wednesday. The stock has a 50 day moving average price of $588.04 and a 200 day moving average price of $562.60. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a market capitalization of $77.51 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities analysts anticipate that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio is presently 13.00%.

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.