Wetzel Investment Advisors Inc. Acquires New Position in McKesson Co. (NYSE:MCK)

Wetzel Investment Advisors Inc. purchased a new position in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 262 shares of the company’s stock, valued at approximately $121,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Covestor Ltd increased its position in McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. OFI Invest Asset Management acquired a new position in McKesson during the third quarter worth approximately $26,000. Legacy Financial Group LLC acquired a new position in McKesson during the third quarter worth approximately $27,000. Live Oak Investment Partners acquired a new position in McKesson during the fourth quarter worth approximately $30,000. Finally, BKM Wealth Management LLC acquired a new position in McKesson during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 1.2 %

NYSE MCK traded up $6.02 during trading hours on Friday, reaching $524.83. 645,525 shares of the company traded hands, compared to its average volume of 454,051. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $543.00. The stock has a market capitalization of $68.97 billion, a PE ratio of 23.78, a PEG ratio of 1.41 and a beta of 0.45. The company has a 50 day moving average of $524.91 and a two-hundred day moving average of $486.31.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same period in the prior year, the firm posted $6.90 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a $0.62 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is currently 11.24%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of several recent research reports. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Barclays initiated coverage on shares of McKesson in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. Citigroup increased their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Mizuho increased their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Argus increased their price objective on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $533.50.

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.