2,338 Shares in McKesson Corporation (NYSE:MCK) Bought by Kellett Wealth Advisors LLC

Kellett Wealth Advisors LLC acquired a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 2,338 shares of the company's stock, valued at approximately $1,573,000. McKesson accounts for about 1.1% of Kellett Wealth Advisors LLC's portfolio, making the stock its 18th biggest position.

Several other large investors have also modified their holdings of the stock. Capital A Wealth Management LLC acquired a new stake in shares of McKesson during the fourth quarter valued at $26,000. Millstone Evans Group LLC acquired a new stake in shares of McKesson during the 4th quarter worth about $28,000. Atala Financial Inc acquired a new stake in McKesson during the fourth quarter worth approximately $34,000. Graney & King LLC purchased a new stake in McKesson in the 4th quarter worth approximately $38,000. Finally, CoreFirst Bank & Trust acquired a new position in McKesson in the 4th quarter valued at $67,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the sale, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 341 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $244,807.31. Following the transaction, the executive vice president now directly owns 2,800 shares of the company's stock, valued at approximately $2,010,148. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock worth $23,526,451 in the last quarter. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Down 0.2%

MCK traded down $1.64 during trading on Wednesday, hitting $719.18. 529,889 shares of the company's stock were exchanged, compared to its average volume of 920,365. The stock has a 50 day moving average price of $709.57 and a 200 day moving average price of $649.70. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $733.10. The firm has a market cap of $89.98 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 1.44 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. During the same quarter in the previous year, the firm posted $6.18 earnings per share. The firm's quarterly revenue was up 18.9% on a year-over-year basis. Analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is 10.99%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MCK. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 14th. Morgan Stanley lifted their price target on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Bank of America raised their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, UBS Group upped their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $696.42.

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.