Aviance Capital Partners LLC Has $405,000 Position in McKesson Co. (NYSE:MCK)

Aviance Capital Partners LLC lifted its holdings in McKesson Co. (NYSE:MCK) by 31.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 820 shares of the company’s stock after acquiring an additional 197 shares during the quarter. Aviance Capital Partners LLC’s holdings in McKesson were worth $405,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. LRI Investments LLC acquired a new stake in shares of McKesson during the 1st quarter valued at $28,000. Wolff Wiese Magana LLC boosted its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the third quarter valued at about $29,000. ORG Wealth Partners LLC acquired a new position in McKesson in the 3rd quarter worth about $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in McKesson in the 2nd quarter worth about $52,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MCK shares. Barclays boosted their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Wells Fargo & Company reduced their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. JPMorgan Chase & Co. increased their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two 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. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction 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 sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 0.0 %

Shares of McKesson stock opened at $615.47 on Wednesday. The company has a market cap of $78.13 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 1.31 and a beta of 0.44. 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 $524.33 and its 200-day simple moving average is $555.78.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the firm posted $6.23 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. As a group, research analysts forecast that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued 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 is Monday, December 2nd. McKesson’s payout ratio is presently 14.71%.

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.