Heritage Investors Management Corp boosted its stake in McKesson Co. (NYSE:MCK – Free Report) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,191 shares of the company’s stock after acquiring an additional 275 shares during the quarter. Heritage Investors Management Corp’s holdings in McKesson were worth $10,477,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in MCK. Distillate Capital Partners LLC raised its position in shares of McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after purchasing an additional 35,712 shares during the period. Chase Investment Counsel Corp grew its position in McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC increased its stake in McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after buying an additional 133 shares during the period. Councilmark Asset Management LLC acquired a new stake in McKesson during the first quarter valued at $5,160,000. Finally, Vaughan David Investments LLC IL bought a new stake in shares of McKesson in the 2nd quarter valued at approximately $238,000. Institutional investors and hedge funds own 85.07% of the company’s stock.
McKesson Stock Down 0.3 %
MCK traded down $1.48 during trading on Tuesday, hitting $524.46. 10,328 shares of the company traded hands, compared to its average volume of 804,646. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock’s fifty day moving average is $511.62 and its 200 day moving average is $550.62. The firm has a market cap of $68.01 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44.
McKesson Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 12.70%.
Analyst Upgrades and Downgrades
MCK has been the subject of several analyst reports. Mizuho boosted their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Leerink Partners cut their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $610.86.
Check Out Our Latest Stock Report on McKesson
Insider Transactions at McKesson
In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently 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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