Kellett Wealth Advisors LLC Has $1.66 Million Stock Holdings in McKesson Corporation $MCK

Kellett Wealth Advisors LLC trimmed its stake in shares of McKesson Corporation (NYSE:MCK) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,263 shares of the company’s stock after selling 75 shares during the period. McKesson comprises about 1.1% of Kellett Wealth Advisors LLC’s portfolio, making the stock its 18th largest position. Kellett Wealth Advisors LLC’s holdings in McKesson were worth $1,658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. Bank of Jackson Hole Trust raised its holdings in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares during the period. CBIZ Investment Advisory Services LLC raised its holdings in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares during the period. GFG Capital LLC acquired a new stake in shares of McKesson during the second quarter worth $30,000. Saudi Central Bank acquired a new stake in shares of McKesson during the first quarter worth $34,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of McKesson during the first quarter worth $39,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK opened at $768.79 on Tuesday. The firm has a 50-day moving average of $708.64 and a 200-day moving average of $707.37. McKesson Corporation has a one year low of $492.39 and a one year high of $776.14. The company has a market cap of $95.62 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 1.38 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same period last year, the business earned $7.88 EPS. The business’s revenue was up 23.4% on a year-over-year basis. Analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is 13.08%.

Analysts Set New Price Targets

MCK has been the topic of a number of research analyst reports. Evercore ISI raised their price objective on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. UBS Group raised their target price on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Bank of America raised their target price on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $834.54.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,189 shares of company stock valued at $16,722,190. Insiders own 0.08% of the company’s stock.

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.