Highview Capital Management LLC DE acquired a new position in McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,382 shares of the company's stock, valued at approximately $1,103,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its position in McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company's stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the last quarter. Morgan Stanley boosted its position in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company's stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Norges Bank purchased a new position in McKesson in the fourth quarter worth $633,960,000. Northern Trust Corp boosted its position in McKesson by 3.3% in the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company's stock worth $693,656,000 after purchasing an additional 50,265 shares during the last quarter. Finally, Boston Partners lifted its position in shares of McKesson by 12.5% during the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company's stock valued at $522,040,000 after buying an additional 133,351 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on MCK. Argus upped their price target on McKesson from $510.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday. UBS Group upped their price target on McKesson from $575.00 to $620.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. SVB Leerink began coverage on McKesson in a research report on Monday, February 26th. They set an "outperform" rating and a $600.00 price target on the stock. Wells Fargo & Company began coverage on McKesson in a research report on Thursday, December 14th. They set an "equal weight" rating and a $502.00 price target on the stock. Finally, Mizuho upped their price target on McKesson from $450.00 to $505.00 and gave the company a "neutral" rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $528.64.
Check Out Our Latest Stock Report on McKesson
Insider Activity
In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company's stock, valued at $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.
McKesson Price Performance
NYSE MCK traded down $0.36 during trading on Friday, reaching $523.01. The company's stock had a trading volume of 481,845 shares, compared to its average volume of 701,404. The stock has a market capitalization of $68.73 billion, a PE ratio of 23.70, a P/E/G ratio of 1.44 and a beta of 0.45. The firm has a fifty day moving average of $522.68 and a 200 day moving average of $482.87. McKesson Co. has a one year low of $352.34 and a one year high of $543.00.
McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company's quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $6.90 EPS. Research analysts expect that McKesson Co. will post 27.59 earnings per share for the current fiscal year.
McKesson Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.62 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson's dividend payout ratio (DPR) is presently 11.24%.
McKesson Profile
(
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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