Lazard Asset Management LLC cut its stake in McKesson Co. (NYSE:MCK - Free Report) by 14.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,272 shares of the company's stock after selling 3,152 shares during the quarter. Lazard Asset Management LLC's holdings in McKesson were worth $10,412,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in MCK. Millstone Evans Group LLC purchased a new position in McKesson in the 4th quarter valued at about $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the fourth quarter worth approximately $32,000. Crews Bank & Trust acquired a new position in McKesson in the 4th quarter valued at $33,000. Atala Financial Inc acquired a new stake in McKesson during the 4th quarter worth $34,000. Finally, Graney & King LLC acquired a new stake in shares of McKesson in the fourth quarter valued at about $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.
McKesson Stock Performance
NYSE MCK traded up $0.18 during trading on Monday, reaching $724.36. 549,247 shares of the company's stock were exchanged, compared to its average volume of 915,906. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.48. The stock has a market cap of $90.63 billion, a P/E ratio of 33.17, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The company has a 50 day moving average price of $683.14 and a two-hundred day moving average price of $628.50.
McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm's revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm posted $6.18 earnings per share. Research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.
McKesson Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is currently 10.99%.
Insider Activity
In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction that occurred on 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 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.11% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Mizuho increased their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. UBS Group lifted their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company boosted their price target 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. Finally, Bank of America upped their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $686.69.
Read Our Latest Stock Report on McKesson
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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