Flagship Harbor Advisors LLC grew its position in McKesson Co. (NYSE:MCK – Get Rating) by 5.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,550 shares of the company’s stock after buying an additional 87 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in McKesson were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also modified their holdings of the company. Live Oak Investment Partners acquired a new position in McKesson during the 4th quarter worth $30,000. Column Capital Advisors LLC grew its stake in McKesson by 189.3% during the 4th quarter. Column Capital Advisors LLC now owns 81 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares in the last quarter. Covestor Ltd lifted its holdings in McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after buying an additional 34 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in McKesson during the 4th quarter worth about $40,000. Finally, Almanack Investment Partners LLC. purchased a new stake in McKesson during the 3rd quarter worth about $41,000. 83.77% of the stock is owned by institutional investors and hedge funds.
McKesson Stock Performance
McKesson stock opened at $415.76 on Friday. The stock has a 50-day simple moving average of $384.72 and a 200-day simple moving average of $372.14. The company has a market capitalization of $56.34 billion, a P/E ratio of 16.56, a PEG ratio of 1.41 and a beta of 0.59. McKesson Co. has a fifty-two week low of $310.37 and a fifty-two week high of $419.33.
McKesson Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 1st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 0.52%. The ex-dividend date is Wednesday, May 31st. McKesson’s dividend payout ratio is presently 8.60%.
Insider Buying and Selling at McKesson
In other McKesson news, CEO Brian S. Tyler sold 18,542 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $386.04, for a total transaction of $7,157,953.68. Following the completion of the sale, the chief executive officer now directly owns 75,737 shares of the company’s stock, valued at approximately $29,237,511.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 18,542 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $386.04, for a total transaction of $7,157,953.68. Following the transaction, the chief executive officer now owns 75,737 shares in the company, valued at approximately $29,237,511.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Avila sold 1,330 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $383.89, for a total value of $510,573.70. Following the transaction, the executive vice president now owns 10,390 shares in the company, valued at approximately $3,988,617.10. The disclosure for this sale can be found here. Insiders sold a total of 28,667 shares of company stock valued at $11,123,837 in the last ninety days. Insiders own 0.21% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on MCK. Mizuho lifted their price target on McKesson from $376.00 to $390.00 in a report on Tuesday, May 9th. Credit Suisse Group lifted their price target on McKesson from $430.00 to $450.00 in a report on Friday, May 12th. 58.com reaffirmed a “maintains” rating on shares of McKesson in a report on Tuesday, May 9th. Robert W. Baird lifted their price target on McKesson from $450.00 to $475.00 in a report on Tuesday, May 9th. Finally, StockNews.com initiated coverage on McKesson in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $430.17.
About McKesson
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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