McKesson Co. (NYSE:MCK) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,871 shares of the company's stock after purchasing an additional 1,260 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.14% of McKesson worth $103,080,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Distillate Capital Partners LLC increased its holdings in McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock valued at $20,874,000 after buying an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock valued at $5,247,000 after buying an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company's stock valued at $948,000 after buying an additional 133 shares in the last quarter. 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. increased its holdings in McKesson by 2,143.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company's stock valued at $851,000 after buying an additional 1,393 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company's stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.11% of the company's stock.

McKesson Price Performance

NYSE:MCK traded down $8.53 during trading hours on Friday, reaching $581.73. 597,052 shares of the company were exchanged, compared to its average volume of 615,492. The firm has a market cap of $73.84 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 1.25 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock has a 50 day simple moving average of $592.54 and a 200 day simple moving average of $561.46.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson's revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.23 earnings per share. On average, analysts predict that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson's dividend payout ratio is currently 14.71%.

Analysts Set New Price Targets

MCK has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Wells Fargo & Company increased their price target on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target on the stock. Morgan Stanley increased their price target on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Finally, StockNews.com upgraded shares of McKesson from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $646.14.

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.