Whalen Wealth Management Inc. Takes $254,000 Position in McKesson Co. (NYSE:MCK)

Whalen Wealth Management Inc. acquired a new position in McKesson Co. (NYSE:MCK) in the 4th quarter, HoldingsChannel reports. The fund acquired 445 shares of the company’s stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dakota Wealth Management raised its position in shares of McKesson by 2.8% in the fourth quarter. Dakota Wealth Management now owns 1,582 shares of the company’s stock valued at $902,000 after purchasing an additional 43 shares during the period. XML Financial LLC purchased a new position in McKesson in the 4th quarter valued at approximately $348,000. Nisa Investment Advisors LLC raised its holdings in McKesson by 104.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 96,348 shares of the company’s stock valued at $54,978,000 after acquiring an additional 49,286 shares during the period. Genesis Private Wealth LLC purchased a new stake in shares of McKesson during the fourth quarter worth $285,000. Finally, Simon Quick Advisors LLC boosted its holdings in shares of McKesson by 15.4% in the fourth quarter. Simon Quick Advisors LLC now owns 666 shares of the company’s stock worth $380,000 after acquiring an additional 89 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Down 0.3 %

MCK opened at $584.44 on Thursday. The stock has a market capitalization of $74.19 billion, a P/E ratio of 30.27, a PEG ratio of 1.27 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a 50-day moving average price of $593.20 and a 200-day moving average price of $561.23.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.23 earnings per share. On average, equities research analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MCK. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Evercore ISI upped their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Citigroup cut their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $646.14.

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.