CWA Asset Management Group LLC Has $525,000 Position in McKesson Co. (NYSE:MCK)

CWA Asset Management Group LLC raised its holdings in McKesson Co. (NYSE:MCK) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 921 shares of the company’s stock after acquiring an additional 80 shares during the quarter. CWA Asset Management Group LLC’s holdings in McKesson were worth $525,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson in the 3rd quarter valued at $29,000. Wolff Wiese Magana LLC lifted its position in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the 3rd quarter valued at about $40,000. Finally, Centennial Bank AR bought a new position in shares of McKesson in the 2nd quarter valued at approximately $53,000. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

Shares of MCK stock opened at $589.60 on Thursday. The stock has a market cap of $74.84 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. The stock has a fifty day moving average price of $589.65 and a 200 day moving average price of $561.45. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the business earned $6.23 EPS. The firm’s revenue was up 21.3% on a year-over-year basis. Equities research analysts anticipate that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio is 14.71%.

Analysts Set New Price Targets

MCK has been the subject of a number of recent analyst reports. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Citigroup raised their target price on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Leerink Partners decreased their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $648.71.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.11% of the company’s stock.

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.