Neuberger Berman Group LLC Has $35.96 Million Stake in McKesson Co. (NYSE:MCK)

Neuberger Berman Group LLC lowered its stake in McKesson Co. (NYSE:MCK) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,093 shares of the company’s stock after selling 2,697 shares during the quarter. Neuberger Berman Group LLC’s holdings in McKesson were worth $35,957,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC acquired a new stake in McKesson in the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the fourth quarter worth $32,000. Crews Bank & Trust bought a new position in shares of McKesson in the 4th quarter valued at $33,000. Atala Financial Inc acquired a new stake in shares of McKesson during the 4th quarter valued at $34,000. Finally, Graney & King LLC bought a new stake in McKesson during the 4th quarter worth $38,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Up 0.9 %

MCK stock opened at $678.08 on Friday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $733.64. The stock has a 50-day moving average price of $640.96 and a 200-day moving average price of $591.60. The firm has a market cap of $84.98 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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, analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Analyst Ratings Changes

A number of brokerages have recently commented on MCK. Mizuho lifted their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Morgan Stanley raised their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $661.00.

McKesson Company 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.