Investment Management Corp of Ontario lessened its stake in McKesson Co. (NYSE:MCK - Free Report) by 40.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,140 shares of the company's stock after selling 7,573 shares during the quarter. Investment Management Corp of Ontario's holdings in McKesson were worth $6,349,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of MCK. Millstone Evans Group LLC bought a new position in McKesson in the 4th quarter valued at $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the fourth quarter valued at $32,000. Crews Bank & Trust bought a new position in McKesson in the fourth quarter valued at about $33,000. Atala Financial Inc bought a new stake in McKesson during the 4th quarter worth about $34,000. Finally, Graney & King LLC acquired a new position in McKesson during the 4th quarter valued at about $38,000. 85.07% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. StockNews.com raised McKesson from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Morgan Stanley boosted their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Three 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. Based on data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and a consensus target price of $686.69.
Read Our Latest Research Report on MCK
Insider Buying and Selling
In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.
McKesson Price Performance
Shares of MCK traded down $5.58 during midday trading on Wednesday, hitting $682.20. The stock had a trading volume of 1,217,907 shares, compared to its average volume of 912,212. The firm has a market cap of $85.50 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The company has a 50 day simple moving average of $680.82 and a two-hundred day simple moving average of $623.83. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.48.
McKesson (NYSE:MCK - Get Free Report) last released its 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 firm had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.18 EPS. Analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.
McKesson Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio is currently 10.99%.
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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