Wealth Enhancement Advisory Services LLC Acquires 1,260 Shares of McKesson Co. (NYSE:MCK)

Wealth Enhancement Advisory Services LLC lifted its holdings in McKesson Co. (NYSE:MCK) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,871 shares of the company’s stock after buying an additional 1,260 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.14% of McKesson worth $103,080,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Distillate Capital Partners LLC grew its stake in McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after purchasing an additional 35,712 shares during the period. Chase Investment Counsel Corp increased its holdings in McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after buying an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC raised its position in McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the period. Vaughan David Investments LLC IL purchased a new position in McKesson in the second quarter valued at about $238,000. Finally, Newbridge Financial Services Group Inc. grew its position in shares of McKesson by 2,143.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after acquiring an additional 1,393 shares during the period. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

NYSE:MCK traded up $1.51 during trading hours on Friday, reaching $591.77. The company’s stock had a trading volume of 95,672 shares, compared to its average volume of 530,472. The firm has a 50-day simple moving average of $591.44 and a 200-day simple moving average of $561.65. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm has a market capitalization of $75.12 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 1.25 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the company posted $6.23 EPS. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s payout ratio is currently 14.71%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Citigroup lifted their price objective on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI raised their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Two equities research 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’s stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $648.71.

About McKesson

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.