Silver Oak Securities Incorporated grew its position in McKesson Co. (NYSE:MCK - Free Report) by 124.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,083 shares of the company's stock after purchasing an additional 600 shares during the quarter. Silver Oak Securities Incorporated's holdings in McKesson were worth $618,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of MCK. International Assets Investment Management LLC boosted its stake in shares of McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock valued at $398,937,000 after purchasing an additional 734,849 shares during the last quarter. FMR LLC lifted its position in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company's stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock valued at $588,048,000 after acquiring an additional 425,875 shares during the period. Janus Henderson Group PLC lifted its position in shares of McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock valued at $283,903,000 after acquiring an additional 321,119 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after acquiring an additional 162,688 shares during the period. 85.07% of the stock is owned by institutional investors.
A number of research analysts recently issued reports on MCK shares. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday. Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective on the stock. Citigroup lowered their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Finally, Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has an average rating of "Buy" and an average price target of $645.79.
Check Out Our Latest Stock Report on McKesson
MCK traded down $3.98 during trading on Friday, hitting $595.77. 715,172 shares of the company traded hands, compared to its average volume of 765,241. The firm has a market cap of $75.63 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The stock's fifty day moving average is $588.40 and its 200 day moving average is $562.90. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts forecast that McKesson Co. will post 32.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson's dividend payout ratio (DPR) is currently 13.00%.
In other news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by company insiders.
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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