Western Wealth Management LLC Has $1.62 Million Stock Position in McKesson Co. (NYSE:MCK)

Western Wealth Management LLC decreased its position in McKesson Co. (NYSE:MCK) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 large investors have also recently added to or reduced their stakes in MCK. Norges Bank acquired a new position in McKesson in the 4th quarter valued at approximately $633,960,000. International Assets Investment Management LLC raised its holdings in shares of McKesson by 1,044.5% in the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after buying an additional 749,504 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after buying an additional 708,438 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of McKesson by 94,078.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock worth $223,628,000 after buying an additional 595,518 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of McKesson by 53.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock worth $280,399,000 after buying an additional 320,588 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Morgan Stanley increased their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday. Argus increased their target price on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, Citigroup increased their price target on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

Insider Transactions at McKesson

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

McKesson Stock Performance

MCK traded up $0.68 during mid-day trading on Friday, reaching $519.49. The stock had a trading volume of 149,802 shares, compared to its average volume of 681,699. The stock has a market capitalization of $68.27 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.43 and a beta of 0.45. The firm’s fifty day simple moving average is $524.44 and its two-hundred day simple moving average is $485.71. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00.

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

McKesson Dividend Announcement

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

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.