McKesson Corporation $MCK Stake Lessened by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its stake in shares of McKesson Corporation (NYSE:MCK) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 183,753 shares of the company’s stock after selling 2,035 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in McKesson were worth $137,839,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Solstein Capital LLC lifted its holdings in McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. State of Wyoming bought a new position in McKesson in the 2nd quarter valued at about $29,000. GFG Capital LLC bought a new stake in McKesson during the second quarter worth approximately $30,000. Delos Wealth Advisors LLC acquired a new stake in shares of McKesson in the second quarter valued at $35,000. Finally, Abound Wealth Management grew its stake in shares of McKesson by 104.3% in the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,851,096.24. This represents a 10.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.08% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $840.29 on Monday. McKesson Corporation has a 52-week low of $570.51 and a 52-week high of $895.58. The stock has a fifty day moving average price of $833.47 and a two-hundred day moving average price of $766.87. The company has a market cap of $103.72 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.38 and a beta of 0.41.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter last year, the company posted $7.07 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, December 1st. McKesson’s dividend payout ratio (DPR) is 10.21%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup boosted their target price on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Bank of America boosted their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Leerink Partners lifted their target price on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Mizuho raised their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Finally, Cowen reiterated a “buy” rating on shares of McKesson in a research report on Monday, December 22nd. Two equities research 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 stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $895.79.

About McKesson

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.