World Investment Advisors LLC Acquires New Shares in McKesson Co. (NYSE:MCK)

World Investment Advisors LLC bought a new position in shares of McKesson Co. (NYSE:MCK) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,509 shares of the company’s stock, valued at approximately $2,229,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Raymond James & Associates raised its stake in McKesson by 4.4% in the second quarter. Raymond James & Associates now owns 164,559 shares of the company’s stock worth $96,109,000 after buying an additional 6,944 shares in the last quarter. Apollon Wealth Management LLC raised its position in shares of McKesson by 12.5% in the 2nd quarter. Apollon Wealth Management LLC now owns 6,905 shares of the company’s stock worth $4,033,000 after acquiring an additional 766 shares in the last quarter. Milestone Asset Management LLC purchased a new stake in shares of McKesson during the 2nd quarter worth $1,394,000. Raymond James Financial Services Advisors Inc. boosted its position in McKesson by 22.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 44,994 shares of the company’s stock valued at $26,278,000 after purchasing an additional 8,395 shares in the last quarter. Finally, Bey Douglas LLC grew its stake in McKesson by 1.2% in the second quarter. Bey Douglas LLC now owns 3,715 shares of the company’s stock valued at $2,150,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $576.24 on Friday. The firm has a market capitalization of $73.15 billion, a P/E ratio of 29.84, a PEG ratio of 1.25 and a beta of 0.49. The company’s fifty day moving average price is $564.01 and its 200-day moving average price is $562.74. McKesson Co. has a 1-year low of $431.35 and a 1-year 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. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the company earned $6.23 earnings per share. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. McKesson’s dividend payout ratio is presently 14.71%.

Insider Buying and Selling

In other McKesson 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 transaction of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on MCK. JPMorgan Chase & Co. increased their price target on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Two investment 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 company’s stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $643.43.

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.