Invesco Ltd. cut its holdings in McKesson Co. (NYSE:MCK - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,054,636 shares of the company's stock after selling 21,986 shares during the quarter. Invesco Ltd. owned about 0.83% of McKesson worth $601,048,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of McKesson in the 4th quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new position in shares of McKesson in the fourth quarter worth $32,000. Crews Bank & Trust purchased a new position in shares of McKesson in the fourth quarter worth $33,000. Atala Financial Inc acquired a new stake in shares of McKesson during the fourth quarter worth $34,000. Finally, Graney & King LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 85.07% of the company's stock.
Analyst Upgrades and Downgrades
MCK has been the subject of a number of research reports. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Mizuho raised their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Finally, Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three research 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 company's stock. According to MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus price target of $668.50.
Get Our Latest Analysis on MCK
Insider Buying and Selling
In other news, 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 value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is owned by corporate insiders.
McKesson Trading Up 1.6 %
Shares of McKesson stock traded up $11.10 during trading hours on Friday, reaching $690.43. The stock had a trading volume of 841,601 shares, compared to its average volume of 881,074. The stock's 50 day moving average is $642.70 and its 200 day moving average is $593.86. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The firm has a market capitalization of $86.53 billion, a PE ratio of 31.61, a PEG ratio of 1.29 and a beta of 0.49.
McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts' consensus estimates 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, sell-side analysts predict that McKesson Co. will post 32.77 earnings per share 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 paid a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson's dividend 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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