Raiffeisen Bank International AG boosted its stake in shares of McKesson Corporation (NYSE:MCK – Free Report) by 13.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 21,890 shares of the company’s stock after purchasing an additional 2,537 shares during the quarter. Raiffeisen Bank International AG’s holdings in McKesson were worth $18,110,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in MCK. GGM Financials LLC bought a new stake in McKesson during the third quarter valued at about $25,000. State of Wyoming acquired a new position in shares of McKesson during the second quarter worth $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of McKesson during the third quarter worth $33,000. Board of the Pension Protection Fund acquired a new position in shares of McKesson during the fourth quarter worth $33,000. Finally, Kingdom Financial Group LLC. acquired a new position in shares of McKesson during the fourth quarter worth $33,000. Institutional investors own 85.07% of the company’s stock.
McKesson Trading Down 0.3%
Shares of MCK 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 has a market cap of $94.77 billion, a P/E ratio of 20.50, a PEG ratio of 1.30 and a beta of 0.31. The stock’s 50 day moving average is $799.89 and its two-hundred day moving average is $846.79.
McKesson Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on MCK. Raymond James Financial set a $970.00 price target on McKesson in a research note on Thursday, March 5th. Barclays decreased their price target on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday. William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings cut McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $960.53.
Read Our Latest Stock Report on McKesson
Insider Buying and Selling
In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the sale, the executive vice president owned 2,268 shares in the company, valued at $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents 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. Insiders have sold 11,822 shares of company stock valued at $8,986,212 in the last quarter. Corporate insiders own 0.08% of the company’s stock.
About McKesson
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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