Aaron Wealth Advisors LLC Has $2.49 Million Position in McKesson Co. (NYSE:MCK)

Aaron Wealth Advisors LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,373 shares of the company’s stock after buying an additional 324 shares during the period. Aaron Wealth Advisors LLC’s holdings in McKesson were worth $2,492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. International Assets Investment Management LLC raised its position in shares of McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after purchasing an additional 734,849 shares during the period. FMR LLC raised its position in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after buying an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after buying an additional 321,119 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Trading Down 0.4 %

MCK stock opened at $592.69 on Friday. The firm has a 50 day moving average of $595.11 and a 200-day moving average of $561.34. The firm has a market capitalization of $75.24 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the business earned $6.23 earnings per share. Sell-side analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on MCK. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Leerink Partners reduced their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson Company 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.