Busey Bank acquired a new stake in McKesson Co. (NYSE:MCK – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 353 shares of the company’s stock, valued at approximately $201,000.
Other large investors have also made changes to their positions in the company. Wolff Wiese Magana LLC raised its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $31,000. Synergy Asset Management LLC purchased a new position in McKesson in the 4th quarter valued at about $32,000. Finally, ORG Wealth Partners LLC acquired a new stake in McKesson in the 3rd quarter worth about $40,000. 85.07% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Wells Fargo & Company upped their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.
McKesson Stock Up 0.3 %
Shares of McKesson stock opened at $605.16 on Friday. The firm has a market cap of $76.82 billion, a PE ratio of 31.34, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The business’s fifty day simple moving average is $591.81 and its 200-day simple moving average is $561.82.
McKesson (NYSE:MCK – Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm posted $6.23 earnings per share. As a group, equities analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.
McKesson Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 14.71%.
Insider Activity
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 owns 864 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.
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.
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