Avantax Advisory Services Inc. Sells 26 Shares of McKesson Co. (NYSE:MCK)

Avantax Advisory Services Inc. cut its holdings in shares of McKesson Co. (NYSE:MCKFree Report) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,539 shares of the company’s stock after selling 26 shares during the period. Avantax Advisory Services Inc.’s holdings in McKesson were worth $669,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MCK. Kendall Capital Management boosted its position in McKesson by 73.9% in the second quarter. Kendall Capital Management now owns 1,687 shares of the company’s stock worth $721,000 after purchasing an additional 717 shares during the last quarter. Aspire Private Capital LLC boosted its position in McKesson by 3.2% in the third quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock worth $851,000 after purchasing an additional 60 shares during the last quarter. Raymond James & Associates boosted its position in McKesson by 0.4% in the third quarter. Raymond James & Associates now owns 144,396 shares of the company’s stock worth $62,791,000 after purchasing an additional 533 shares during the last quarter. Brown Advisory Inc. boosted its position in McKesson by 4.8% in the second quarter. Brown Advisory Inc. now owns 3,844 shares of the company’s stock worth $1,643,000 after purchasing an additional 175 shares during the last quarter. Finally, C WorldWide Group Holding A S bought a new stake in McKesson in the 2nd quarter worth approximately $2,151,000. 82.69% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 1.4 %

MCK opened at $501.35 on Friday. The business has a fifty day moving average of $475.11 and a 200 day moving average of $451.23. McKesson Co. has a 52-week low of $331.75 and a 52-week high of $519.75. The stock has a market cap of $66.71 billion, a P/E ratio of 22.72, a PEG ratio of 1.81 and a beta of 0.44.

McKesson (NYSE:MCKGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 275.97% and a net margin of 0.99%. McKesson’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.90 EPS. Equities analysts anticipate that McKesson Co. will post 27.27 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley lifted their price objective on McKesson from $459.00 to $480.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. JPMorgan Chase & Co. lifted their target price on McKesson from $495.00 to $514.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. TD Cowen lifted their target price on McKesson from $508.00 to $563.00 and gave the stock an “outperform” rating in a report on Monday, December 11th. Barclays began coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price for the company. Finally, UBS Group lifted their target price on McKesson from $525.00 to $559.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $511.54.

Check Out Our Latest Analysis on McKesson

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 14,026 shares of McKesson stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

McKesson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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