Eley Financial Management Inc Sells 147 Shares of McKesson Co. (NYSE:MCK)

Eley Financial Management Inc lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 3.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund 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 have also added to or reduced their stakes in the company. Legacy Financial Group LLC acquired a new position in McKesson in the third quarter valued at about $27,000. OFI Invest Asset Management acquired a new stake in shares of McKesson during the third quarter worth about $26,000. BKM Wealth Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth about $31,000. Avior Wealth Management LLC raised its position in shares of McKesson by 50.0% during the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after purchasing an additional 28 shares during the period. Finally, WASHINGTON TRUST Co raised its position in shares of McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after purchasing an additional 34 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock traded up $0.05 during midday trading on Friday, reaching $539.99. The company had a trading volume of 193,997 shares, compared to its average volume of 680,673. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00. The stock has a fifty day moving average price of $527.50 and a 200 day moving average price of $488.84. The firm has a market cap of $70.96 billion, a PE ratio of 24.46, a P/E/G ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same period in the previous year, the firm earned $6.90 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts forecast that McKesson Co. will post 27.59 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 dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Argus raised their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Citigroup raised their price target on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Barclays started coverage on McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target for the company. Finally, SVB Leerink started coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target for the company. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $533.50.

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.