125,890 Shares in McKesson Co. (NYSE:MCK) Acquired by World Investment Advisors LLC

World Investment Advisors LLC bought a new position in McKesson Co. (NYSE:MCK) during the 3rd quarter, Holdings Channel.com reports. The fund bought 125,890 shares of the company’s stock, valued at approximately $62,243,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson during the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson in the third quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in McKesson in the second quarter worth $52,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.6 %

McKesson stock opened at $603.64 on Friday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The business has a fifty day moving average of $552.52 and a two-hundred day moving average of $561.54. The firm has a market cap of $76.63 billion, a P/E ratio of 31.26, a P/E/G ratio of 1.32 and a beta of 0.49.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Analyst Ratings Changes

A number of brokerages have commented on MCK. Citigroup lifted their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Leerink Partners dropped their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Evercore ISI lifted their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two investment 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $635.86.

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.