McKesson Corporation (NYSE:MCK) Stock Position Raised by CWA Asset Management Group LLC

CWA Asset Management Group LLC increased its stake in shares of McKesson Corporation (NYSE:MCK) by 6.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 979 shares of the company’s stock after acquiring an additional 58 shares during the period. CWA Asset Management Group LLC’s holdings in McKesson were worth $659,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Kingswood Wealth Advisors LLC increased its holdings in shares of McKesson by 1.2% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,135 shares of the company’s stock valued at $1,438,000 after acquiring an additional 26 shares during the last quarter. Essex Savings Bank acquired a new position in shares of McKesson during the 1st quarter valued at about $246,000. Wolf Group Capital Advisors acquired a new position in shares of McKesson during the 1st quarter valued at about $1,651,000. CENTRAL TRUST Co increased its holdings in shares of McKesson by 0.5% during the 1st quarter. CENTRAL TRUST Co now owns 8,896 shares of the company’s stock valued at $5,987,000 after acquiring an additional 46 shares during the last quarter. Finally, PKO Investment Management Joint Stock Co acquired a new position in shares of McKesson during the 1st quarter valued at about $1,009,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 1.1%

Shares of NYSE:MCK opened at $720.88 on Friday. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $733.10. The firm has a market capitalization of $90.19 billion, a PE ratio of 27.91, a PEG ratio of 1.46 and a beta of 0.49. The business’s 50 day moving average is $708.42 and its 200-day moving average is $647.84.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $6.18 EPS. On average, sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on MCK. Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. UBS Group raised their target price on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Wells Fargo & Company set a $766.00 target price on McKesson and gave the company an “equal weight” rating in a report on Tuesday, June 3rd. Finally, Wall Street Zen lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 14th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $694.38.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of the business’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 transaction, the executive vice president now owns 2,621 shares of the company’s stock, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares in the company, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock worth $23,526,451 in the last 90 days. 0.11% of the stock is owned by company insiders.

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.