SBI Okasan Asset Management Co.Ltd. purchased a new position in McKesson Corporation (NYSE:MCK – Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,120 shares of the company’s stock, valued at approximately $930,000.
Several other institutional investors also recently added to or reduced their stakes in MCK. Brighton Jones LLC increased its position in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after buying an additional 798 shares during the period. Caxton Associates LLP bought a new position in McKesson in the 1st quarter worth approximately $233,000. Sivia Capital Partners LLC increased its position in McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares during the period. Treasurer of the State of North Carolina increased its position in McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after buying an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. bought a new position in McKesson in the 2nd quarter worth approximately $166,000. 85.07% of the stock is owned by institutional investors.
McKesson Stock Performance
McKesson stock opened at $741.47 on Friday. The firm has a market cap of $89.13 billion, a P/E ratio of 19.27, a P/E/G ratio of 1.13 and a beta of 0.35. The business’s fifty day moving average is $819.93 and its two-hundred day moving average is $852.44. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00.
McKesson Announces Dividend
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 paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is currently 8.53%.
Insiders Place Their Bets
In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. This trade represents a 52.23% 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 sold 8,663 shares of company stock worth $7,217,102. Insiders own 0.08% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on MCK. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Raymond James Financial set a $970.00 price target on McKesson in a research report on Thursday, March 5th. Wells Fargo & Company lowered their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Barclays upped their price target on McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Finally, Citigroup lowered their price target on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $968.87.
Check Out Our Latest Report on McKesson
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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