Prudential PLC decreased its position in McKesson Co. (NYSE:MCK - Free Report) by 51.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,311 shares of the company's stock after selling 8,841 shares during the quarter. Prudential PLC's holdings in McKesson were worth $4,737,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new position in McKesson during the 4th quarter valued at about $32,000. Crews Bank & Trust bought a new position in McKesson in the 4th quarter worth about $33,000. Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC bought a new stake in shares of McKesson during the fourth quarter valued at approximately $38,000. 85.07% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the 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 completion of the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,110 shares of company stock worth $10,855,706. Corporate insiders own 0.11% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on MCK. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Bank of America raised their price target on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a report on Friday. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Finally, Wells Fargo & Company increased their target price on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Three equities research 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $668.50.
View Our Latest Report on MCK
McKesson Price Performance
Shares of NYSE:MCK traded up $11.10 on Friday, reaching $690.43. 841,601 shares of the company traded hands, compared to its average volume of 879,494. The stock has a market capitalization of $86.53 billion, a PE 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 200-day moving average is $593.06. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32.
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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, analysts expect that McKesson Co. will post 32.77 EPS for the current year.
McKesson Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson's dividend payout ratio is 13.00%.
About McKesson
(
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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