1,014 Shares in McKesson Co. (NYSE:MCK) Bought by Avant Financial Advisors LLC

Avant Financial Advisors LLC purchased a new stake in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,014 shares of the company's stock, valued at approximately $578,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Geneos Wealth Management Inc. grew its position in McKesson by 5.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,144 shares of the company's stock valued at $652,000 after acquiring an additional 61 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in McKesson by 38.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 2,109 shares of the company's stock worth $1,202,000 after buying an additional 584 shares during the period. Pacer Advisors Inc. grew its stake in shares of McKesson by 18.0% in the fourth quarter. Pacer Advisors Inc. now owns 19,279 shares of the company's stock worth $10,987,000 after acquiring an additional 2,935 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its position in shares of McKesson by 9.1% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,578 shares of the company's stock worth $899,000 after acquiring an additional 132 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Bank of America raised their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Morgan Stanley boosted their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Mizuho raised their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Finally, Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $686.69.

McKesson Stock Up 1.0%

Shares of MCK traded up $6.99 on Friday, reaching $719.85. The stock had a trading volume of 1,322,227 shares, compared to its average volume of 917,806. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.00. The firm has a market capitalization of $90.06 billion, a PE ratio of 32.96, a PEG ratio of 1.29 and a beta of 0.53. The firm has a 50-day moving average of $695.18 and a 200 day moving average of $637.67.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.18 earnings per share. On average, sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Insider Transactions at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the transaction, the chief financial officer now directly owns 14,760 shares in the company, valued at approximately $10,587,348. The trade was a 30.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 341 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $244,807.31. Following the transaction, the executive vice president now owns 2,800 shares in the company, valued at approximately $2,010,148. The trade was a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,856 shares of company stock valued at $7,793,675 over the last three months. 0.11% of the stock is currently owned by insiders.

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.