Aviso Wealth Management Makes New $340,000 Investment in McKesson Co. (NYSE:MCK)

Aviso Wealth Management bought a new position in shares of McKesson Co. (NYSE:MCK) during the second quarter, Holdings Channel reports. The fund bought 582 shares of the company’s stock, valued at approximately $340,000.

A number of other institutional investors have also recently added to or reduced their stakes in MCK. Steward Partners Investment Advisory LLC grew its holdings in McKesson by 30.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,670 shares of the company’s stock worth $773,000 after acquiring an additional 386 shares during the last quarter. GM Advisory Group LLC bought a new stake in McKesson during the 4th quarter worth approximately $249,000. Alberta Investment Management Corp grew its holdings in McKesson by 22.2% during the 4th quarter. Alberta Investment Management Corp now owns 3,300 shares of the company’s stock worth $1,528,000 after acquiring an additional 600 shares during the last quarter. FinTrust Capital Advisors LLC grew its holdings in McKesson by 19.8% during the 4th quarter. FinTrust Capital Advisors LLC now owns 703 shares of the company’s stock worth $325,000 after acquiring an additional 116 shares during the last quarter. Finally, United Community Bank grew its holdings in McKesson by 40.7% during the 4th quarter. United Community Bank now owns 311 shares of the company’s stock worth $144,000 after acquiring an additional 90 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 11,259 shares of company stock worth $6,635,492. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 1.9 %

MCK opened at $488.25 on Friday. The company’s fifty day moving average price is $550.84 and its two-hundred day moving average price is $555.57. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The company has a market cap of $63.44 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 1.18 and a beta of 0.44.

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

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.58%. McKesson’s dividend payout ratio is presently 12.69%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Leerink Partners dropped their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday. Robert W. Baird restated a “neutral” rating and issued a $531.00 price target (down previously from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Evercore ISI dropped their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $613.36.

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.