Advisors Asset Management Inc. Has $5.67 Million Position in McKesson Co. (NYSE:MCK)

Advisors Asset Management Inc. raised its holdings in shares of McKesson Co. (NYSE:MCK) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,471 shares of the company’s stock after purchasing an additional 319 shares during the quarter. Advisors Asset Management Inc.’s holdings in McKesson were worth $5,671,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. RFP Financial Group LLC raised its holdings in shares of McKesson by 9.8% in the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after acquiring an additional 17 shares during the last quarter. Modera Wealth Management LLC boosted its position in shares of McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after buying an additional 17 shares during the last quarter. Larson Financial Group LLC grew its holdings in McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after buying an additional 17 shares in the last quarter. First Western Trust Bank raised its position in McKesson by 2.0% in the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after buying an additional 18 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich lifted its stake in McKesson by 0.4% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock valued at $2,935,000 after acquiring an additional 19 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

Shares of MCK stock opened at $628.15 on Friday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The company’s fifty day simple moving average is $528.89 and its two-hundred day simple moving average is $556.74. The stock has a market capitalization of $79.74 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the firm posted $6.23 EPS. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. Equities research analysts anticipate that McKesson Co. will post 32.81 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. McKesson’s dividend payout ratio is currently 14.71%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction 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 ownership of the stock. The transaction 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 company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on MCK. Leerink Partners dropped their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Wells Fargo & Company decreased their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Evercore ISI boosted their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

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.