Avion Wealth Buys 98 Shares of McKesson Co. (NYSE:MCK)

Avion Wealth raised its position in shares of McKesson Co. (NYSE:MCK) by 47.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 306 shares of the company’s stock after acquiring an additional 98 shares during the quarter. Avion Wealth’s holdings in McKesson were worth $174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lester Murray Antman dba SimplyRich lifted its stake in shares of McKesson by 1.0% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 5,191 shares of the company’s stock valued at $2,958,000 after purchasing an additional 53 shares during the period. Gladstone Institutional Advisory LLC raised its holdings in McKesson by 63.7% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,488 shares of the company’s stock worth $848,000 after purchasing an additional 579 shares in the last quarter. Certuity LLC lifted its position in McKesson by 46.5% during the fourth quarter. Certuity LLC now owns 693 shares of the company’s stock valued at $395,000 after buying an additional 220 shares during the period. Schear Investment Advisers LLC boosted its holdings in shares of McKesson by 35.2% during the 4th quarter. Schear Investment Advisers LLC now owns 2,277 shares of the company’s stock valued at $1,298,000 after buying an additional 593 shares in the last quarter. Finally, Warther Private Wealth LLC grew its position in shares of McKesson by 12.4% in the 4th quarter. Warther Private Wealth LLC now owns 22,403 shares of the company’s stock worth $12,768,000 after buying an additional 2,464 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 6th. Bank of America cut 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. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company increased their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $645.79.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

MCK opened at $610.57 on Wednesday. The company’s 50-day simple moving average is $588.04 and its two-hundred day simple moving average is $562.60. The stock has a market capitalization of $77.51 billion, a P/E ratio of 27.96, a P/E/G ratio of 1.30 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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%. Research analysts forecast that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Announces Dividend

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

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.