Sterling Capital Management LLC boosted its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,643 shares of the company's stock after acquiring an additional 788 shares during the quarter. Sterling Capital Management LLC's holdings in McKesson were worth $7,205,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of MCK. Millstone Evans Group LLC acquired a new position in McKesson during the 4th quarter worth about $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust acquired a new stake in McKesson during the 4th quarter worth approximately $33,000. Atala Financial Inc purchased a new position in McKesson in the 4th quarter valued at approximately $34,000. Finally, Graney & King LLC acquired a new position in shares of McKesson in the fourth quarter worth $38,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at McKesson
In other news, EVP Leann B. Smith sold 188 shares of McKesson 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 sale, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $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. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 in the last three months. Insiders own 0.11% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Morgan Stanley increased their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Bank of America increased their target price on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a report on Friday. Citigroup lowered their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Three equities 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $668.50.
Check Out Our Latest Stock Analysis on MCK
McKesson Trading Down 0.2 %
Shares of McKesson stock traded down $1.55 during trading on Tuesday, reaching $692.43. The company's stock had a trading volume of 670,601 shares, compared to its average volume of 883,286. The company has a 50-day moving average price of $644.47 and a two-hundred day moving average price of $595.30. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32. The firm has a market cap of $86.78 billion, a PE ratio of 31.70, a P/E/G ratio of 1.29 and a beta of 0.49.
McKesson (NYSE:MCK - Get Free Report) last announced its 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, analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal 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 issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio is presently 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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