Astoria Portfolio Advisors LLC. Invests $684,000 in McKesson Corporation $MCK

Astoria Portfolio Advisors LLC. bought a new stake in McKesson Corporation (NYSE:MCK) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 905 shares of the company’s stock, valued at approximately $684,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of McKesson during the 2nd quarter worth approximately $1,346,661,000. Alliancebernstein L.P. grew its stake in shares of McKesson by 150.4% in the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after buying an additional 1,362,386 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in McKesson by 56.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after buying an additional 446,060 shares during the last quarter. Voya Investment Management LLC raised its position in McKesson by 92.3% during the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after acquiring an additional 312,473 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in McKesson by 45.6% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock worth $610,977,000 after acquiring an additional 261,296 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MCK. UBS Group lifted their price objective on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Barclays began coverage on McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 price target on the stock. Evercore ISI restated an “outperform” rating and issued a $1,000.00 price objective on shares of McKesson in a research note on Thursday, November 6th. Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Leerink Partners boosted their target price on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $892.86.

McKesson Stock Up 1.2%

Shares of NYSE:MCK opened at $819.92 on Friday. McKesson Corporation has a 12-month low of $565.75 and a 12-month high of $895.58. The company’s 50 day moving average price is $826.23 and its two-hundred day moving average price is $751.49. The firm has a market cap of $101.20 billion, a PE ratio of 25.52, a PEG ratio of 1.33 and a beta of 0.38.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $7.07 earnings per share. On average, research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s dividend payout ratio is presently 10.21%.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.