IAM Advisory LLC Boosts Stake in McKesson Co. (NYSE:MCK)

IAM Advisory LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,030 shares of the company’s stock after buying an additional 47 shares during the quarter. McKesson comprises approximately 0.6% of IAM Advisory LLC’s investment portfolio, making the stock its 27th biggest holding. IAM Advisory LLC’s holdings in McKesson were worth $2,297,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MCK. TruWealth Advisors LLC increased its holdings in McKesson by 9.2% in the 4th quarter. TruWealth Advisors LLC now owns 1,073 shares of the company’s stock worth $612,000 after buying an additional 90 shares during the period. Ameritas Advisory Services LLC increased its stake in shares of McKesson by 44.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 1,778 shares of the company’s stock worth $1,014,000 after acquiring an additional 546 shares during the period. HB Wealth Management LLC raised its holdings in shares of McKesson by 10.4% during the fourth quarter. HB Wealth Management LLC now owns 7,538 shares of the company’s stock worth $4,296,000 after purchasing an additional 709 shares during 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 valued at $224,000 after purchasing an additional 18 shares during the period. Finally, Integrated Investment Consultants LLC boosted its holdings in McKesson by 3.9% in the fourth quarter. Integrated Investment Consultants LLC now owns 2,198 shares of the company’s stock valued at $1,253,000 after purchasing an additional 82 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Leerink Partners reduced their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the company 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $646.14.

McKesson Trading Down 0.4 %

MCK stock opened at $592.69 on Friday. The business’s 50-day moving average is $595.11 and its 200 day moving average is $561.34. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a market cap of $75.24 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the company earned $6.23 EPS. The firm’s revenue was up 21.3% compared to the same quarter last year. As a group, equities analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. 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.