Avestar Capital LLC Lowers Holdings in McKesson Co. (NYSE:MCK)

Avestar Capital LLC lowered its position in McKesson Co. (NYSE:MCK) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,268 shares of the company’s stock after selling 35 shares during the quarter. Avestar Capital LLC’s holdings in McKesson were worth $627,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its holdings in shares of McKesson by 10.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,747 shares of the company’s stock valued at $2,548,000 after acquiring an additional 449 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of McKesson by 31.7% during the first quarter. Tidal Investments LLC now owns 7,487 shares of the company’s stock valued at $4,021,000 after purchasing an additional 1,800 shares in the last quarter. Plato Investment Management Ltd raised its stake in McKesson by 251.9% in the first quarter. Plato Investment Management Ltd now owns 3,463 shares of the company’s stock worth $1,859,000 after buying an additional 2,479 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in McKesson by 3.7% during the first quarter. Citizens Financial Group Inc. RI now owns 985 shares of the company’s stock worth $529,000 after buying an additional 35 shares during the period. Finally, Wahed Invest LLC lifted its holdings in McKesson by 14.4% during the first quarter. Wahed Invest LLC now owns 2,609 shares of the company’s stock worth $1,401,000 after buying an additional 329 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s 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 approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

McKesson Price Performance

NYSE:MCK opened at $625.00 on Wednesday. The company’s fifty day moving average price is $535.14 and its 200-day moving average price is $558.45. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The firm has a market capitalization of $79.34 billion, a P/E ratio of 32.37, a PEG ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last announced 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. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the firm earned $6.23 EPS. Equities analysts anticipate that McKesson Co. will post 32.78 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Citigroup raised their target price on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Leerink Partners lowered their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Mizuho upped their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $631.57.

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.