Kentucky Retirement Systems decreased its holdings in shares of McKesson Co. (NYSE:MCK – Free Report) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,034 shares of the company’s stock after selling 761 shares during the quarter. Kentucky Retirement Systems’ holdings in McKesson were worth $4,467,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. LRI Investments LLC acquired a new stake in McKesson in the 1st quarter worth about $28,000. Wolff Wiese Magana LLC boosted its position in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in McKesson in the third quarter valued at approximately $40,000. Carmichael Hill & Associates Inc. purchased a new stake in McKesson in the second quarter valued at approximately $52,000. Finally, Centennial Bank AR purchased a new position in McKesson during the second quarter worth approximately $53,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.
McKesson Price Performance
MCK opened at $606.29 on Friday. The stock has a market capitalization of $76.96 billion, a PE ratio of 31.40, a P/E/G ratio of 1.35 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm’s fifty day moving average price is $520.01 and its 200 day moving average price is $554.41.
McKesson Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.
Insider Buying and Selling
In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of analysts have recently commented on the company. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Evercore ISI boosted their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Mizuho increased their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $631.57.
Read Our Latest Stock Report on McKesson
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.
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