Northstar Advisory Group LLC purchased a new position in shares of McKesson Co. (NYSE:MCK – Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 495 shares of the company’s stock, valued at approximately $229,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Legacy Financial Group LLC bought a new position in shares of McKesson in the 3rd quarter worth $27,000. OFI Invest Asset Management bought a new position in shares of McKesson in the 3rd quarter worth $26,000. BKM Wealth Management LLC bought a new position in McKesson during the 4th quarter valued at $31,000. Live Oak Investment Partners bought a new position in McKesson during the 4th quarter valued at $30,000. Finally, Covestor Ltd lifted its stake in McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.
McKesson Price Performance
McKesson stock opened at $538.12 on Thursday. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $540.00. The firm has a market capitalization of $70.71 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 1.64 and a beta of 0.44. The company’s 50-day moving average is $511.92 and its 200 day moving average is $474.70.
McKesson Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. McKesson’s payout ratio is currently 11.24%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on MCK shares. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. 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 target price for the company. Mizuho lifted their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Barclays assumed coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $522.21.
Read Our Latest Research Report on McKesson
Insider Transactions at McKesson
In related news, CEO Brian S. Tyler sold 14,026 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $20,853,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson 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 transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,685 shares of company stock worth $8,646,498. Company insiders own 0.21% of the company’s stock.
McKesson Profile
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.
Read More
- Five stocks we like better than McKesson
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Walgreens Boots Alliance: Deep Value With Nowhere to Go But Up
- How to Calculate Retirement Income: MarketBeat’s Calculator
- Delta Airline’s Put Option Activity Isn’t Bad News
- What is a buyback in stocks? A comprehensive guide for investors
- Krispy Kreme’s Sweet Deal: McDonald’s Partnership Sparks Growth?
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.