Hazlett Burt & Watson Inc. Has $68,000 Position in McKesson Corporation $MCK

Hazlett Burt & Watson Inc. lowered its holdings in shares of McKesson Corporation (NYSE:MCK) by 53.0% during the second quarter, HoldingsChannel reports. The firm owned 93 shares of the company’s stock after selling 105 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in McKesson were worth $68,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of McKesson by 1.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after buying an additional 14 shares in the last quarter. Palisade Asset Management LLC grew its holdings in shares of McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after buying an additional 15 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in shares of McKesson by 0.5% during the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after buying an additional 15 shares in the last quarter. Keystone Financial Services grew its holdings in shares of McKesson by 1.2% during the first quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock worth $945,000 after buying an additional 17 shares in the last quarter. Finally, Valmark Advisers Inc. grew its holdings in shares of McKesson by 2.1% during the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock worth $618,000 after buying an additional 17 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,189 shares of company stock worth $16,722,190. Corporate insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.7%

NYSE:MCK opened at $768.79 on Tuesday. The stock has a market cap of $95.62 billion, a P/E ratio of 30.65, a PEG ratio of 1.38 and a beta of 0.52. The stock has a 50 day simple moving average of $708.64 and a 200 day simple moving average of $707.37. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $776.14.

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

McKesson Increases Dividend

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

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. Cowen reiterated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Jefferies Financial Group set a $900.00 price objective on McKesson and gave the stock a “buy” rating in a report on Monday. Evercore ISI increased their price target on McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Wells Fargo & Company increased their price target on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. increased their price target on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $834.54.

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.