Haven Private LLC bought a new stake in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,487 shares of the company's stock, valued at approximately $1,417,000.
Several other institutional investors and hedge funds also recently made changes to their positions in MCK. MidAtlantic Capital Management Inc. bought a new stake in McKesson in the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the third quarter worth approximately $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson in the fourth quarter worth approximately $32,000. Crews Bank & Trust bought a new stake in McKesson during the fourth quarter valued at approximately $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson during the fourth quarter valued at approximately $44,000. Institutional investors own 85.07% of the company's stock.
A number of research firms recently issued reports on MCK. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Citigroup cut their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Finally, Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $645.79.
Read Our Latest Analysis on McKesson
In other news, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,268 shares of company stock worth $11,536,378 in the last three months. 0.11% of the stock is owned by insiders.
McKesson stock opened at $642.84 on Friday. The firm has a market capitalization of $80.56 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $653.92. The stock's fifty day moving average is $599.30 and its two-hundred day moving average is $566.69.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. McKesson's dividend payout ratio (DPR) is 13.00%.
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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