Corient Private Wealth LLC cut its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,725 shares of the company's stock after selling 5,939 shares during the quarter. Corient Private Wealth LLC owned about 0.15% of McKesson worth $106,481,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Synergy Asset Management LLC bought a new position in shares of McKesson during the fourth quarter valued at $32,000. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the third quarter valued at $29,000. Crews Bank & Trust bought a new position in shares of McKesson during the fourth quarter valued at $33,000. Atala Financial Inc bought a new position in shares of McKesson during the fourth quarter valued at $34,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of McKesson during the third quarter valued at $31,000. 85.07% of the stock is currently owned by institutional investors.
McKesson Price Performance
Shares of NYSE:MCK traded up $2.67 during mid-day trading on Thursday, reaching $666.46. 720,084 shares of the company traded hands, compared to its average volume of 792,544. The company's 50 day moving average price is $613.05 and its 200-day moving average price is $573.00. The firm has a market cap of $83.52 billion, a PE ratio of 30.52, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $669.82.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.
McKesson Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.43%. McKesson's dividend payout ratio is currently 13.00%.
Insider Activity
In related news, CEO Brian S. Tyler sold 8,961 shares of the 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
MCK has been the subject of several analyst reports. Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective for the company. Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $649.36.
Get Our Latest Stock Analysis on MCK
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.
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