Xponance LLC boosted its holdings in shares of McKesson Corporation (NYSE:MCK – Free Report) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,926 shares of the company’s stock after acquiring an additional 2,495 shares during the quarter. Xponance LLC’s holdings in McKesson were worth $33,571,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. GGM Financials LLC acquired a new position in shares of McKesson in the 3rd quarter worth approximately $25,000. State of Wyoming acquired a new position in shares of McKesson in the 2nd quarter worth approximately $29,000. Board of the Pension Protection Fund acquired a new position in shares of McKesson in the 4th quarter worth approximately $33,000. Kingdom Financial Group LLC. acquired a new position in shares of McKesson in the 4th quarter worth approximately $33,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in shares of McKesson in the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.
McKesson Stock Down 0.3%
McKesson stock opened at $788.44 on Friday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The firm’s fifty day moving average is $799.89 and its 200 day moving average is $846.79. The company has a market capitalization of $94.77 billion, a PE ratio of 20.50, a PEG ratio of 1.30 and a beta of 0.31.
McKesson Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is presently 8.53%.
Insider Buying and Selling at McKesson
In other McKesson news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 11,822 shares of company stock worth $8,986,212. Corporate insiders own 0.08% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Leerink Partners restated an “outperform” rating and issued a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. JPMorgan Chase & Co. dropped their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, Citigroup dropped their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $960.53.
Get Our Latest Stock Report on MCK
McKesson Company Profile
McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.
The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.
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