Pittenger & Anderson Inc. bought a new stake in McKesson Corporation (NYSE:MCK – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 635 shares of the company’s stock, valued at approximately $550,000.
A number of other large investors also recently bought and sold shares of MCK. Brighton Jones LLC raised its stake in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new position in McKesson in the 1st quarter worth about $233,000. Sivia Capital Partners LLC lifted its position in McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina raised its stake in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after buying an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of McKesson during the 2nd quarter valued at $166,000. 85.07% of the stock is owned by hedge funds and other institutional investors.
McKesson Stock Performance
Shares of MCK opened at $805.31 on Monday. The stock has a market capitalization of $94.29 billion, a PE ratio of 20.93, a PEG ratio of 1.33 and a beta of 0.31. The company has a 50 day moving average price of $766.35 and a 200-day moving average price of $838.68. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.
McKesson Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s payout ratio is currently 8.53%.
Insiders Place Their Bets
In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 that occurred on Friday, June 5th. The shares were 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 $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. Insiders have sold 28,748 shares of company stock valued at $22,262,035 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. William Blair assumed coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Wells Fargo & Company cut their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. UBS Group increased their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Bank of America dropped their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $960.53.
View Our Latest Stock Analysis 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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