Canada Post Corp Registered Pension Plan bought a new position in McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,095 shares of the company's stock, valued at approximately $1,194,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in shares of McKesson during the 4th quarter worth about $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the fourth quarter worth approximately $32,000. Crews Bank & Trust acquired a new position in shares of McKesson during the fourth quarter worth approximately $33,000. Atala Financial Inc bought a new stake in shares of McKesson in the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC acquired a new stake in shares of McKesson in the fourth quarter worth $38,000. Institutional investors and hedge funds own 85.07% of the company's stock.
Insider Buying and Selling
In other news, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock worth $10,855,706 in the last quarter. Insiders own 0.11% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on MCK shares. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Wells Fargo & Company upped their price target on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Finally, Bank of America lifted their price objective on McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $668.50.
Get Our Latest Stock Report on MCK
McKesson Price Performance
Shares of NYSE:MCK traded up $2.52 during trading on Friday, reaching $697.22. The stock had a trading volume of 1,044,943 shares, compared to its average volume of 889,369. The stock has a market capitalization of $87.38 billion, a PE ratio of 31.92, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The business's 50-day moving average price is $651.89 and its 200 day moving average price is $601.00.
McKesson (NYSE:MCK - Get Free Report) last announced its earnings results 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 negative return on equity of 181.26% and a net margin of 0.82%. Analysts forecast that McKesson Co. will post 32.77 EPS for the current year.
McKesson Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio is currently 13.00%.
McKesson Profile
(
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.
See Also
Before you consider McKesson, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and McKesson wasn't on the list.
While McKesson currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
