McKesson Co. (NYSE:MCK) Shares Sold by Avestar Capital LLC

Avestar Capital LLC lowered its stake in McKesson Co. (NYSE:MCK) by 2.7% during the third quarter, Holdings Channel.com reports. The fund owned 1,268 shares of the company’s stock after selling 35 shares during the quarter. Avestar Capital LLC’s holdings in McKesson were worth $627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in shares of McKesson in the first quarter valued at about $28,000. MidAtlantic Capital Management Inc. acquired a new stake in McKesson in the 3rd quarter worth about $29,000. Wolff Wiese Magana LLC boosted its holdings in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in McKesson during the 3rd quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson during the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 1.3 %

NYSE MCK opened at $625.00 on Wednesday. The stock has a fifty day simple moving average of $535.14 and a 200-day simple moving average of $558.45. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The stock has a market cap of $79.34 billion, a PE ratio of 32.37, a P/E/G 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 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business posted $6.23 EPS. Research analysts predict that McKesson Co. will post 32.78 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. McKesson’s dividend payout ratio is presently 14.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MCK shares. Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. 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 research report on Thursday, November 7th. Finally, Barclays increased their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by corporate insiders.

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.