Meridian Investment Counsel Inc. decreased its stake in McKesson Co. (NYSE:MCK - Free Report) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,898 shares of the company's stock after selling 1,510 shares during the quarter. Meridian Investment Counsel Inc.'s holdings in McKesson were worth $2,222,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in McKesson during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the 4th quarter valued at $32,000. Crews Bank & Trust bought a new stake in shares of McKesson during the 4th quarter valued at $33,000. Atala Financial Inc purchased a new position in shares of McKesson during the 4th quarter valued at $34,000. Finally, Graney & King LLC bought a new position in McKesson in the 4th quarter worth $38,000. Institutional investors own 85.07% of the company's stock.
Insiders Place Their Bets
In other news, EVP Leann B. Smith sold 188 shares of the company'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 in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company's stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 over the last 90 days. Insiders own 0.11% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Morgan Stanley upped their price target on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday. Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target on the stock. Two 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $656.71.
View Our Latest Stock Report on MCK
McKesson Price Performance
Shares of McKesson stock traded up $20.43 on Wednesday, reaching $694.12. The company had a trading volume of 1,203,109 shares, compared to its average volume of 840,867. The firm has a market cap of $86.99 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 1.29 and a beta of 0.52. The firm's 50-day moving average price is $626.97 and its two-hundred day moving average price is $582.06. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $698.76.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data 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%. As a group, analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.
McKesson Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio (DPR) is currently 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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