Bank OZK Reduces Stock Position in McKesson Co. (NYSE:MCK)

Bank OZK lowered its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 84.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 693 shares of the company's stock after selling 3,662 shares during the period. Bank OZK's holdings in McKesson were worth $395,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Old North State Trust LLC raised its holdings in McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock worth $563,000 after purchasing an additional 18 shares during the last quarter. Trust Co. of Vermont raised its stake in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after buying an additional 18 shares during the last quarter. Hemington Wealth Management lifted its holdings in McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after buying an additional 18 shares during the period. Black Diamond Financial LLC boosted its position in McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock valued at $754,000 after acquiring an additional 19 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its holdings in McKesson by 0.4% during the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock worth $2,665,000 after acquiring an additional 20 shares during the period. Institutional investors own 85.07% of the company's stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were 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 trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock worth $11,536,378 in the last 90 days. Insiders own 0.11% of the company's stock.

Analyst Ratings Changes

MCK has been the topic of several research analyst reports. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 target price on the stock. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Finally, Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $645.79.

McKesson Trading Down 0.5 %

McKesson stock traded down $3.30 during trading on Wednesday, hitting $640.39. 920,672 shares of the company were exchanged, compared to its average volume of 790,260. The company has a market capitalization of $80.26 billion, a P/E ratio of 29.32, a PEG ratio of 1.29 and a beta of 0.52. The business's 50 day moving average is $596.79 and its 200 day moving average is $565.63. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $653.92.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. McKesson's dividend payout ratio is currently 13.00%.

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.