Shell Asset Management Co. cut its position in McKesson Co. (NYSE:MCK - Free Report) by 19.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,809 shares of the company's stock after selling 1,655 shares during the quarter. Shell Asset Management Co.'s holdings in McKesson were worth $3,881,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in MCK. Millstone Evans Group LLC bought a new position in McKesson during the 4th quarter valued at $28,000. Synergy Asset Management LLC bought a new position in McKesson during the 4th quarter valued at $32,000. Crews Bank & Trust bought a new position in McKesson during the 4th quarter valued at $33,000. Atala Financial Inc bought a new position in McKesson during the 4th quarter valued at $34,000. Finally, Graney & King LLC bought a new position in McKesson during the 4th quarter valued at $38,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at McKesson
In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares of the company's stock, valued at $36,276,465.36. The trade was a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.11% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Bank of America increased their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wells Fargo & Company raised 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. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Morgan Stanley raised their price target on shares of 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 given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and an average target price of $686.69.
Check Out Our Latest Analysis on McKesson
McKesson Stock Up 0.3%
McKesson stock traded up $1.87 during trading hours on Monday, hitting $726.05. 785,862 shares of the company traded hands, compared to its average volume of 916,487. The firm has a market cap of $90.84 billion, a P/E ratio of 33.24, a P/E/G ratio of 1.29 and a beta of 0.53. The firm's 50-day simple moving average is $683.14 and its two-hundred day simple moving average is $628.50. McKesson Co. has a 1-year low of $464.42 and a 1-year 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 net margin of 0.82% and a negative return on equity of 181.26%. McKesson's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the company earned $6.18 EPS. On average, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.
McKesson Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. McKesson's dividend payout ratio is currently 10.99%.
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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