Advisors Asset Management Inc. Buys 319 Shares of McKesson Co. (NYSE:MCK)

Advisors Asset Management Inc. increased its position in shares of McKesson Co. (NYSE:MCK) by 2.9% during the 3rd quarter, Holdings Channel reports. The firm owned 11,471 shares of the company’s stock after acquiring an additional 319 shares during the period. Advisors Asset Management Inc.’s holdings in McKesson were worth $5,671,000 at the end of the most recent reporting period.

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

McKesson Trading Up 1.1 %

NYSE MCK opened at $628.15 on Friday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm’s fifty day simple moving average is $528.89 and its two-hundred day simple moving average is $556.74. The firm has a market capitalization of $79.74 billion, a P/E ratio of 32.53, a P/E/G ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the company earned $6.23 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, sell-side analysts predict that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Activity at McKesson

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 stock was 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 approximately $44,094,604.60. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MCK shares. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Mizuho increased their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Evercore ISI raised their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.