Allegiance Financial Group Advisory Services LLC acquired a new stake in shares of McKesson Co. (NYSE:MCK – Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 377 shares of the company’s stock, valued at approximately $215,000.
Other large investors have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in shares of McKesson by 3.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 47,062 shares of the company’s stock valued at $23,300,000 after purchasing an additional 1,678 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of McKesson by 3,125.0% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 129 shares of the company’s stock valued at $64,000 after purchasing an additional 125 shares during the last quarter. Valmark Advisers Inc. increased its position in shares of McKesson by 31.4% during the 3rd quarter. Valmark Advisers Inc. now owns 920 shares of the company’s stock valued at $455,000 after purchasing an additional 220 shares during the last quarter. Fidelis Capital Partners LLC increased its position in shares of McKesson by 86.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 3,179 shares of the company’s stock valued at $1,595,000 after purchasing an additional 1,472 shares during the last quarter. Finally, Deltec Asset Management LLC purchased a new stake in shares of McKesson during the 3rd quarter valued at $742,000. 85.07% of the stock is currently owned by institutional investors.
McKesson Stock Down 0.4 %
MCK stock opened at $624.53 on Thursday. The firm has a market capitalization of $78.27 billion, a PE ratio of 28.60, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock has a 50-day simple moving average of $592.07 and a two-hundred day simple moving average of $563.06.
McKesson Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. McKesson’s payout ratio is 13.00%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on MCK shares. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.
Get Our Latest Stock Analysis on McKesson
Insider Buying and Selling
In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock worth $11,536,378 in the last quarter. 0.11% of the stock is owned by insiders.
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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