Aaron Wealth Advisors LLC Has $2.49 Million Position in McKesson Co. (NYSE:MCK)

Aaron Wealth Advisors LLC boosted its position in McKesson Co. (NYSE:MCK) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,373 shares of the company’s stock after buying an additional 324 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in McKesson were worth $2,492,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of MCK. Wolff Wiese Magana LLC boosted its stake in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the third quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new position in McKesson in the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $592.69 on Friday. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The company has a market cap of $75.24 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.26 and a beta of 0.52. The firm has a 50 day simple moving average of $595.11 and a 200 day simple moving average of $561.34.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share 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 the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the business posted $6.23 EPS. As a group, analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Leerink Partners reduced their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $646.14.

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.