McKesson Co. (NYSE:MCK) Position Trimmed by Western Wealth Management LLC

Western Wealth Management LLC lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 2.5% during the 4th quarter, HoldingsChannel reports. The fund owned 3,507 shares of the company’s stock after selling 89 shares during the period. Western Wealth Management LLC’s holdings in McKesson were worth $1,623,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MCK. Covestor Ltd grew its stake in shares of McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after buying an additional 34 shares in the last quarter. OFI Invest Asset Management acquired a new stake in McKesson in the 3rd quarter worth approximately $26,000. Legacy Financial Group LLC acquired a new stake in McKesson in the 3rd quarter worth approximately $27,000. Live Oak Investment Partners acquired a new stake in McKesson in the 4th quarter worth approximately $30,000. Finally, BKM Wealth Management LLC acquired a new stake in McKesson in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.1 %

NYSE:MCK traded up $0.68 during trading hours on Friday, reaching $519.49. The company had a trading volume of 149,802 shares, compared to its average volume of 681,699. The stock has a 50-day moving average of $524.44 and a two-hundred day moving average of $485.71. McKesson Co. has a one year low of $352.34 and a one year high of $543.00. The firm has a market capitalization of $68.27 billion, a PE ratio of 23.51, a PEG ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same period in the prior year, the business posted $6.90 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts expect that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is 11.24%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Morgan Stanley upped their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday. Barclays began coverage on McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. Mizuho upped their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Argus upped their price target on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $533.50.

McKesson Company 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.