Aaron Wealth Advisors LLC Sells 318 Shares of McKesson Co. (NYSE:MCK)

Aaron Wealth Advisors LLC lowered its stake in shares of McKesson Co. (NYSE:MCK) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,049 shares of the company’s stock after selling 318 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in McKesson were worth $2,002,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MCK. Swedbank AB bought a new stake in McKesson during the 1st quarter worth about $669,326,000. Bessemer Group Inc. lifted its position in McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after purchasing an additional 340,007 shares during the period. Bristol Gate Capital Partners Inc. acquired a new position in McKesson during the 1st quarter valued at about $97,510,000. American Century Companies Inc. lifted its position in McKesson by 134.6% during the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock valued at $128,850,000 after purchasing an additional 126,567 shares during the period. Finally, Castle Hook Partners LP acquired a new position in McKesson during the 1st quarter valued at about $63,774,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MCK. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Citigroup cut their target price on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Leerink Partners cut their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Argus increased their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $610.86.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

McKesson Stock Performance

MCK stock traded down $1.53 during mid-day trading on Friday, hitting $507.19. 170,377 shares of the company were exchanged, compared to its average volume of 804,397. The firm has a market cap of $65.90 billion, a P/E ratio of 22.73, a P/E/G ratio of 1.17 and a beta of 0.44. The firm’s 50 day simple moving average is $521.73 and its 200 day simple moving average is $552.12. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $7.27 EPS. On average, equities research analysts predict that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a dividend of $0.71 per share. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

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.