Investment Advisory Services Inc. TX ADV Lowers Position in McKesson Co. (NYSE:MCK)

Investment Advisory Services Inc. TX ADV decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,291 shares of the company’s stock after selling 23 shares during the period. Investment Advisory Services Inc. TX ADV’s holdings in McKesson were worth $1,306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCK. International Assets Investment Management LLC grew its stake in shares of McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after acquiring an additional 734,849 shares during the period. FMR LLC increased its holdings in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after buying an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the last quarter. Janus Henderson Group PLC raised its holdings in McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after purchasing an additional 321,119 shares during the period. Finally, Nordea Investment Management AB increased its position in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

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

McKesson Trading Down 0.7 %

Shares of MCK opened at $595.77 on Friday. The firm has a market capitalization of $75.63 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.30 and a beta of 0.52. The firm has a fifty day moving average price of $588.40 and a 200-day moving average price of $562.90. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Analysts predict that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s payout ratio is presently 13.00%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. 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 target on the stock. Finally, StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday. Two equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $645.79.

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.