Icon Wealth Advisors LLC Acquires 1,917 Shares of McKesson Co. (NYSE:MCK)

Icon Wealth Advisors LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 457.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,336 shares of the company’s stock after buying an additional 1,917 shares during the quarter. Icon Wealth Advisors LLC’s holdings in McKesson were worth $1,155,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MCK. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of McKesson in the 1st quarter worth approximately $81,000. 1832 Asset Management L.P. purchased a new stake in McKesson in the 1st quarter worth about $102,000. LRI Investments LLC bought a new stake in McKesson in the 1st quarter valued at about $177,000. Bellevue Group AG boosted its position in McKesson by 85.4% during the first quarter. Bellevue Group AG now owns 8,997 shares of the company’s stock worth $4,830,000 after purchasing an additional 4,144 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of McKesson by 5.7% in the first quarter. Public Employees Retirement System of Ohio now owns 87,520 shares of the company’s stock worth $46,985,000 after purchasing an additional 4,727 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.8 %

Shares of MCK stock opened at $623.19 on Friday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The stock has a market capitalization of $79.11 billion, a P/E ratio of 32.27, a P/E/G ratio of 1.36 and a beta of 0.44. The firm’s 50 day moving average is $530.98 and its 200 day moving average is $557.36.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the business posted $6.23 EPS. As a group, equities analysts predict that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared 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. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCK. Mizuho upped their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Evercore ISI boosted their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $631.57.

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.