Clare Market Investments LLC purchased a new position in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,745 shares of the company's stock, valued at approximately $994,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson in the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson during the third quarter valued at $31,000. Synergy Asset Management LLC purchased a new position in McKesson during the fourth quarter valued at $32,000. Crews Bank & Trust purchased a new position in McKesson during the fourth quarter valued at $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson during the fourth quarter valued at $44,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms recently weighed in on MCK. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Finally, Mizuho began coverage on McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective on the stock. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $645.79.
View Our Latest Analysis on MCK
Insiders Place Their Bets
In other McKesson news, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. The trade was 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 the business's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $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 have sold 18,689 shares of company stock valued at $11,187,351 over the last ninety days. 0.11% of the stock is owned by insiders.
McKesson Price Performance
Shares of MCK stock traded down $12.26 during trading hours on Wednesday, hitting $640.93. The stock had a trading volume of 694,919 shares, compared to its average volume of 819,051. McKesson Co. has a one year low of $464.42 and a one year high of $663.61. The stock's 50-day moving average price is $605.54 and its two-hundred day moving average price is $569.47. The stock has a market capitalization of $80.32 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.29 and a beta of 0.52.
McKesson (NYSE:MCK - Get Free Report) last issued 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%. As a group, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.
McKesson Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson's payout ratio is currently 13.00%.
McKesson Company 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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