World Investment Advisors LLC Invests $2.23 Million in McKesson Co. (NYSE:MCK)

World Investment Advisors LLC purchased a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,509 shares of the company's stock, valued at approximately $2,229,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wolff Wiese Magana LLC lifted its stake in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson during the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new stake in shares of McKesson during the third quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson in the second quarter worth $52,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of NYSE MCK traded down $3.05 during midday trading on Friday, hitting $576.24. 509,590 shares of the company's stock were exchanged, compared to its average volume of 816,910. The stock's 50 day moving average price is $564.01 and its 200-day moving average price is $562.74. The firm has a market cap of $73.15 billion, a P/E ratio of 29.84, a PEG ratio of 1.25 and a beta of 0.49. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company's quarterly revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $6.23 earnings per share. On average, analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. McKesson's dividend payout ratio (DPR) is 14.71%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Leerink Partners lowered their price objective on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a report on Monday, October 7th. JPMorgan Chase & Co. increased their target price on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Citigroup lifted their target price on McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $643.43.

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.