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

Kellett Wealth Advisors LLC cut its stake in shares of McKesson Corporation (NYSE:MCK) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,263 shares of the company’s stock after selling 75 shares during the period. McKesson accounts for 1.1% of Kellett Wealth Advisors LLC’s holdings, 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.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GFG Capital LLC acquired a new stake in McKesson in the 2nd quarter worth about $30,000. CBIZ Investment Advisory Services LLC raised its stake in McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. Bank of Jackson Hole Trust raised its stake in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after purchasing an additional 18 shares in the last quarter. Saudi Central Bank acquired a new stake in McKesson in the 1st quarter worth about $34,000. Finally, Flaharty Asset Management LLC acquired a new stake in McKesson in the 1st quarter worth about $39,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

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

McKesson Price Performance

MCK stock opened at $768.79 on Tuesday. The company has a 50 day simple moving average of $708.64 and a 200 day simple moving average of $707.37. The stock has a market cap of $95.62 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 1.38 and a beta of 0.52. 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 data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The company 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%.McKesson’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.88 earnings per share. On average, equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MCK. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. UBS Group boosted 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. Cowen restated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company boosted their target price on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $834.54.

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.