Van Den Berg Management I Inc. increased its holdings in shares of McKesson Co. (NYSE:MCK) by 11.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,084 shares of the company’s stock after purchasing an additional 11,739 shares during the period. McKesson accounts for 2.0% of Van Den Berg Management I Inc.’s investment portfolio, making the stock its 19th largest holding. Van Den Berg Management I Inc. owned 0.06% of McKesson worth $17,791,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Synovus Financial Corp increased its holdings in shares of McKesson by 62.8% in the 3rd quarter. Synovus Financial Corp now owns 5,803 shares of the company’s stock valued at $890,000 after purchasing an additional 2,238 shares in the last quarter. IFM Investors Pty Ltd purchased a new position in shares of McKesson in the 3rd quarter valued at about $914,000. Legacy Capital Partners Inc. increased its holdings in shares of McKesson by 11.5% in the 4th quarter. Legacy Capital Partners Inc. now owns 3,303 shares of the company’s stock valued at $515,000 after purchasing an additional 340 shares in the last quarter. HL Financial Services LLC increased its holdings in shares of McKesson by 14.5% in the 3rd quarter. HL Financial Services LLC now owns 7,478 shares of the company’s stock valued at $1,149,000 after purchasing an additional 945 shares in the last quarter. Finally, Banque Pictet & Cie SA increased its holdings in shares of McKesson by 4.3% in the 3rd quarter. Banque Pictet & Cie SA now owns 45,632 shares of the company’s stock valued at $7,010,000 after purchasing an additional 1,895 shares in the last quarter. Institutional investors own 88.91% of the company’s stock.
McKesson Co. (NYSE:MCK) traded up $0.81 during trading on Monday, hitting $156.60. 74,788 shares of the company’s stock traded hands, compared to its average volume of 1,699,708. McKesson Co. has a one year low of $133.82 and a one year high of $178.86. The firm has a market cap of $32,145.60, a PE ratio of 6.90, a P/E/G ratio of 1.48 and a beta of 1.29. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 0.61.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 1st will be paid a dividend of $0.34 per share. The ex-dividend date is Wednesday, February 28th. This represents a $1.36 annualized dividend and a dividend yield of 0.87%. McKesson’s dividend payout ratio is currently 6.03%.
In other McKesson news, Chairman John H. Hammergren sold 65,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $160.00, for a total transaction of $10,400,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Erin M. Lampert sold 1,413 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $149.38, for a total transaction of $211,073.94. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
A number of equities analysts have recently issued reports on the stock. Barclays assumed coverage on shares of McKesson in a report on Thursday. They issued an “equal weight” rating and a $165.00 price target for the company. Bank of America assumed coverage on shares of McKesson in a research note on Tuesday, February 27th. They issued a “buy” rating and a $179.00 price objective on the stock. Zacks Investment Research cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. ValuEngine cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Credit Suisse Group reissued a “sell” rating and issued a $130.00 price objective on shares of McKesson in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. McKesson presently has an average rating of “Hold” and an average target price of $176.74.
McKesson Company Profile
McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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