Lebenthal Global Advisors LLC lifted its stake in McKesson Co. (NYSE:MCK - Free Report) by 88.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,083 shares of the company's stock after purchasing an additional 1,450 shares during the period. Lebenthal Global Advisors LLC's holdings in McKesson were worth $1,427,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company's stock valued at $380,228,000 after purchasing an additional 749,504 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company's stock worth $2,238,953,000 after acquiring an additional 708,438 shares in the last quarter. Morgan Stanley lifted its stake in shares of McKesson by 14.0% during the 3rd 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. Caisse DE Depot ET Placement DU Quebec grew its stake in McKesson by 92.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company's stock valued at $246,969,000 after purchasing an additional 272,266 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of McKesson by 5,683.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company's stock valued at $104,178,000 after buying an additional 221,125 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have issued reports on MCK shares. UBS Group lifted their price target on shares of McKesson from $620.00 to $630.00 and gave the stock a "buy" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McKesson from $547.00 to $545.00 and set a "buy" rating for the company in a research note on Thursday. SVB Leerink initiated coverage on shares of McKesson in a research note on Monday, February 26th. They set an "outperform" rating and a $600.00 price target on the stock. Citigroup boosted their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a "buy" rating in a report on Tuesday, April 30th. Finally, Barclays lifted their price target on McKesson from $571.00 to $596.00 and gave the stock an "overweight" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $571.47.
Check Out Our Latest Stock Analysis on McKesson
McKesson Trading Up 0.9 %
MCK traded up $4.79 during trading on Friday, hitting $559.91. The company's stock had a trading volume of 636,900 shares, compared to its average volume of 757,040. The firm has a market capitalization of $72.78 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 1.42 and a beta of 0.45. The business's fifty day simple moving average is $532.92 and its 200 day simple moving average is $495.34. McKesson Co. has a twelve month low of $373.28 and a twelve month high of $566.01.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts' consensus estimates of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business's revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.19 earnings per share. As a group, equities research analysts forecast that McKesson Co. will post 31.5 earnings per share for the current fiscal year.
McKesson Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson's dividend payout ratio is currently 11.08%.
Insider Buying and Selling at McKesson
In related news, CEO Brian S. Tyler sold 3,473 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company's stock, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company's stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the company's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of 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. 0.21% of the stock is currently owned by insiders.
About McKesson
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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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