Legal & General Group Plc decreased its holdings in McKesson Co. (NYSE:MCK - Free Report) by 19.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 977,224 shares of the company's stock after selling 242,065 shares during the quarter. Legal & General Group Plc owned about 0.77% of McKesson worth $556,930,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new position in McKesson during the 4th quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $32,000. Crews Bank & Trust acquired a new position in shares of McKesson in the 4th quarter valued at $33,000. Atala Financial Inc purchased a new position in McKesson in the 4th quarter worth $34,000. Finally, Graney & King LLC acquired a new stake in McKesson during the 4th quarter worth about $38,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at McKesson
In related news, 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 sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was 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 that occurred on 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 $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock valued at $10,855,706 over the last 90 days. Corporate insiders own 0.11% of the company's stock.
Analyst Upgrades and Downgrades
MCK has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. 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 research report on Friday, January 10th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Morgan Stanley raised their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Three 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $668.50.
Check Out Our Latest Analysis on McKesson
McKesson Price Performance
NYSE MCK traded up $11.10 during trading hours on Friday, reaching $690.43. The company's stock had a trading volume of 841,601 shares, compared to its average volume of 881,074. The firm has a market capitalization of $86.53 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 1.29 and a beta of 0.49. The company's 50-day moving average is $642.70 and its two-hundred day moving average is $593.86. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.32.
McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Equities analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.
McKesson Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. McKesson's dividend payout ratio (DPR) is 13.00%.
McKesson 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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