Etesian Wealth Advisors Inc. Sells 142 Shares of McKesson Co. (NYSE:MCK)

Etesian Wealth Advisors Inc. trimmed its position in shares of McKesson Co. (NYSE:MCK) by 16.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 743 shares of the company’s stock after selling 142 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in McKesson were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MCK. Riverview Trust Co acquired a new stake in shares of McKesson during the first quarter worth $49,000. Gateway Investment Advisers LLC increased its stake in McKesson by 13.9% in the 1st quarter. Gateway Investment Advisers LLC now owns 4,284 shares of the company’s stock valued at $2,300,000 after buying an additional 523 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of McKesson in the 1st quarter valued at about $7,489,000. Range Financial Group LLC grew its position in shares of McKesson by 6.2% in the 1st quarter. Range Financial Group LLC now owns 673 shares of the company’s stock valued at $361,000 after acquiring an additional 39 shares during the period. Finally, Lbmc Investment Advisors LLC bought a new position in shares of McKesson in the 1st quarter valued at about $231,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

McKesson stock traded down $6.27 during mid-day trading on Wednesday, hitting $598.15. 227,841 shares of the company traded hands, compared to its average volume of 701,550. McKesson Co. has a one year low of $395.30 and a one year high of $612.17. The stock has a market cap of $77.72 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.41 and a beta of 0.47. The stock has a fifty day moving average price of $561.74 and a 200-day moving average price of $522.73.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.19 earnings per share. Sell-side analysts predict that McKesson Co. will post 31.54 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is currently 11.08%.

Insider Activity

In other news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other McKesson news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 600 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the transaction, the executive vice president now owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,814 shares of company stock worth $14,511,649. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. Barclays lifted their target price on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Bank of America boosted their target price on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday. Argus boosted their target price on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company upped their price objective on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $590.47.

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.