Ameritas Advisory Services LLC Has $1.01 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Ameritas Advisory Services LLC grew its stake in McKesson Co. (NYSE:MCKFree Report) by 44.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,778 shares of the company’s stock after acquiring an additional 546 shares during the period. Ameritas Advisory Services LLC’s holdings in McKesson were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Evercore ISI raised their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two equities research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

Check Out Our Latest Report on McKesson

Insiders Place Their Bets

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

McKesson Price Performance

Shares of NYSE:MCK opened at $585.51 on Wednesday. The firm has a 50 day simple moving average of $594.65 and a 200 day simple moving average of $561.08. The company has a market cap of $74.32 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 1.28 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

McKesson (NYSE:MCKGet Free Report) 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. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the business posted $6.23 EPS. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

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

About McKesson

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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