Western Wealth Management LLC Has $2.13 Million Stock Position in McKesson Corporation $MCK

Western Wealth Management LLC lifted its position in shares of McKesson Corporation (NYSE:MCK) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,908 shares of the company’s stock after purchasing an additional 157 shares during the quarter. Western Wealth Management LLC’s holdings in McKesson were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. Solstein Capital LLC boosted its stake in McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Bank of Jackson Hole Trust boosted its position in shares of McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its position in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. GFG Capital LLC bought a new position in McKesson during the second quarter worth about $30,000. Finally, Saudi Central Bank bought a new stake in shares of McKesson in the 1st quarter valued at approximately $34,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the 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 completion of the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.08% of the stock is currently owned by corporate insiders.

McKesson Price Performance

Shares of NYSE:MCK opened at $850.80 on Monday. The stock has a market cap of $105.01 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 1.46 and a beta of 0.51. The company has a 50 day moving average of $773.51 and a 200-day moving average of $729.70. McKesson Corporation has a one year low of $558.13 and a one year high of $867.63.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same period last year, the firm earned $7.07 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is currently 10.21%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Jefferies Financial Group lifted their price objective on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Evercore ISI restated an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a report on Thursday, November 6th. Citigroup lifted their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Morgan Stanley increased their price objective on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $887.69.

McKesson 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.