Eley Financial Management Inc Reduces Stock Position in McKesson Co. (NYSE:MCK)

Eley Financial Management Inc reduced its position in McKesson Co. (NYSE:MCK) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,226 shares of the company’s stock after selling 147 shares during the period. Eley Financial Management Inc’s holdings in McKesson were worth $1,957,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James & Associates grew its stake in McKesson by 6.1% in the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock worth $70,919,000 after acquiring an additional 8,784 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of McKesson by 6.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after purchasing an additional 5,425 shares during the last quarter. Insight Wealth Strategies LLC acquired a new position in shares of McKesson in the 4th quarter valued at $1,813,000. Aspire Private Capital LLC boosted its holdings in shares of McKesson by 3.2% in the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock valued at $851,000 after purchasing an additional 60 shares during the last quarter. Finally, Argus Investors Counsel Inc. acquired a new position in shares of McKesson in the 4th quarter valued at $891,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MCK. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Argus lifted their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. SVB Leerink started coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price on the stock. Barclays started coverage on shares of McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. Finally, Citigroup lifted their price target on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Trading Up 0.0 %

McKesson stock traded up $0.05 during midday trading on Friday, reaching $539.99. 193,997 shares of the stock traded hands, compared to its average volume of 680,673. The firm has a fifty day moving average price of $527.50 and a two-hundred day moving average price of $488.84. The firm has a market cap of $70.96 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 1.42 and a beta of 0.45. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio is 11.24%.

Insiders Place Their Bets

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

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.