Etesian Wealth Advisors Inc. Reduces Stock Holdings in McKesson Co. (NYSE:MCK)

Etesian Wealth Advisors Inc. decreased its position in McKesson Co. (NYSE:MCK) by 16.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 743 shares of the company’s stock after selling 142 shares during the period. Etesian Wealth Advisors Inc.’s holdings in McKesson were worth $399,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Morgan Stanley lifted its holdings in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares during the period. Norges Bank bought a new position in shares of McKesson during the fourth quarter valued at approximately $1,024,140,000. Putnam Investments LLC increased its position in shares of McKesson by 3.2% during the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after acquiring an additional 62,242 shares in the last quarter. WCM Investment Management LLC increased its position in shares of McKesson by 0.4% during the fourth quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock valued at $500,134,000 after acquiring an additional 4,636 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of McKesson by 0.3% during the third quarter. Wellington Management Group LLP now owns 1,030,180 shares of the company’s stock valued at $447,974,000 after acquiring an additional 2,732 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 1.0 %

MCK traded down $6.27 during trading hours on Wednesday, hitting $598.15. 227,841 shares of the company’s stock were exchanged, compared to its average volume of 701,550. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $612.17. The firm has a 50 day moving average of $561.74 and a 200 day moving average of $522.73. The firm has a market cap of $77.72 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.41 and a beta of 0.47.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the prior year, the company earned $7.19 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, research analysts expect that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.41%. McKesson’s dividend payout ratio is presently 11.08%.

Insider Activity

In other news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McKesson news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas L. Rodgers sold 789 shares of McKesson stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the sale, the executive vice president now owns 7,909 shares in the company, valued at approximately $4,408,476.60. The disclosure for this sale can be found here. Insiders sold 25,814 shares of company stock worth $14,511,649 in the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MCK shares. TD Cowen raised their target price on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Citigroup lifted their target price on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Robert W. Baird upped their price target on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, UBS Group boosted their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $590.47.

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.