McKesson Corporation $MCK Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its holdings in McKesson Corporation (NYSE:MCK) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,753 shares of the company’s stock after selling 2,035 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.15% of McKesson worth $137,839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCK. Vanguard Group Inc. raised its stake in McKesson by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after acquiring an additional 232,286 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of McKesson by 4.1% during the second quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock worth $2,057,065,000 after purchasing an additional 112,224 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of McKesson by 150.4% during the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock worth $1,661,956,000 after purchasing an additional 1,362,386 shares during the last quarter. Norges Bank acquired a new stake in shares of McKesson during the second quarter worth $1,346,661,000. Finally, Arrowstreet Capital Limited Partnership grew its position in McKesson by 56.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock valued at $906,109,000 after buying an additional 446,060 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of NYSE MCK opened at $840.29 on Monday. The company has a 50-day simple moving average of $833.47 and a 200-day simple moving average of $766.87. The company has a market cap of $103.72 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.38 and a beta of 0.41. McKesson Corporation has a 12 month low of $570.51 and a 12 month high of $895.58.

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

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued 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 was Monday, December 1st. McKesson’s dividend payout ratio is presently 10.21%.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction dated 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 directly owned 2,268 shares of the company’s stock, valued at $1,851,096.24. The trade was a 10.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MCK. Evercore ISI restated an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a research report on Thursday, November 6th. Robert W. Baird set a $968.00 price target on shares of McKesson in a report on Wednesday. Jefferies Financial Group lifted their price objective on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Finally, Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $895.79.

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.