Alliancebernstein L.P. increased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 46.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 855,332 shares of the company's stock after acquiring an additional 272,068 shares during the quarter. Alliancebernstein L.P. owned about 0.67% of McKesson worth $487,462,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in shares of McKesson during the 4th quarter worth about $28,000. Synergy Asset Management LLC acquired a new stake in McKesson during the fourth quarter worth approximately $32,000. Crews Bank & Trust bought a new stake in shares of McKesson during the fourth quarter worth approximately $33,000. Atala Financial Inc acquired a new position in shares of McKesson in the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $38,000. Institutional investors own 85.07% of the company's stock.
Analyst Ratings Changes
Several analysts recently issued reports on MCK shares. Wells Fargo & Company boosted their price target on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Morgan Stanley boosted their target price on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target on the stock. Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $656.71.
View Our Latest Stock Analysis on McKesson
Insider Buying and Selling at McKesson
In related news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,689 shares of company stock worth $11,187,351. Insiders own 0.11% of the company's stock.
McKesson Trading Up 3.0 %
MCK stock traded up $20.43 during mid-day trading on Wednesday, reaching $694.12. The company's stock had a trading volume of 1,203,109 shares, compared to its average volume of 839,698. The company has a market cap of $86.99 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $698.76. The business's 50 day moving average price is $626.97 and its 200 day moving average price is $582.06.
McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.
McKesson Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson's payout ratio is 13.00%.
McKesson Profile
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Free Report)
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.
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