Great Waters Wealth Management Has $667,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Great Waters Wealth Management trimmed its holdings in McKesson Co. (NYSE:MCK - Free Report) by 65.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 991 shares of the company's stock after selling 1,880 shares during the quarter. Great Waters Wealth Management's holdings in McKesson were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $26,000. Millstone Evans Group LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $28,000. Atala Financial Inc acquired a new position in shares of McKesson in the 4th quarter valued at about $34,000. Graney & King LLC bought a new stake in McKesson in the 4th quarter valued at about $38,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson during the 4th quarter worth approximately $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 1,248 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the transaction, the executive vice president now directly owns 2,621 shares of the company's stock, valued at $1,880,043.30. This trade represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the transaction, the executive vice president now directly owns 2,544 shares of the company's stock, valued at $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,747 shares of company stock worth $9,852,587. Insiders own 0.11% of the company's stock.

McKesson Stock Up 0.2%

MCK stock opened at $712.99 on Monday. The firm has a market cap of $89.20 billion, a PE ratio of 32.65, a P/E/G ratio of 1.29 and a beta of 0.49. The business has a 50 day moving average of $699.69 and a 200-day moving average of $641.34. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. McKesson's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company posted $6.18 earnings per share. On average, research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's payout ratio is 10.99%.

Analysts Set New Price Targets

MCK has been the topic of a number of research reports. UBS Group upped their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Morgan Stanley upped their price target on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Mizuho upped their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Finally, Bank of America upped their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $692.46.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.