Wealth Enhancement Advisory Services LLC Has $123.33 Million Position in McKesson Corporation (NYSE:MCK)

Wealth Enhancement Advisory Services LLC boosted its stake in McKesson Corporation (NYSE:MCK - Free Report) by 4.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 183,258 shares of the company's stock after buying an additional 7,556 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.15% of McKesson worth $123,332,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $26,000. Millstone Evans Group LLC purchased a new position in McKesson in the 4th quarter worth approximately $28,000. Atala Financial Inc bought a new position in McKesson in the fourth quarter valued at $34,000. Graney & King LLC purchased a new position in shares of McKesson during the 4th quarter valued at about $38,000. Finally, Kestra Investment Management LLC purchased a new position in shares of McKesson during the fourth quarter worth approximately $55,000. Institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In related news, CFO Britt J. Vitalone sold 6,336 shares of McKesson stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the sale, the chief financial officer now owns 14,760 shares of the company's stock, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 19,370 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the transaction, the chief executive officer now owns 51,243 shares of the company's stock, valued at $36,173,970.99. The trade was a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock worth $23,526,451 over the last three months. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Up 0.7%

Shares of NYSE MCK opened at $729.28 on Thursday. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $732.99. The firm has a market capitalization of $91.24 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 1.44 and a beta of 0.49. The firm has a 50 day moving average of $706.79 and a 200 day moving average of $646.38.

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

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued 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 is currently 10.99%.

Wall Street Analyst Weigh In

MCK has been the subject of a number of recent research reports. Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley upped their price objective on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Finally, Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $694.38.

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.

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