McKesson Co. (MCK) Shares Sold by Creative Planning
Creative Planning cut its stake in McKesson Co. (NYSE:MCK) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,580 shares of the company’s stock after selling 437 shares during the period. Creative Planning’s holdings in McKesson were worth $2,742,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ingalls & Snyder LLC increased its position in McKesson by 76.7% in the third quarter. Ingalls & Snyder LLC now owns 16,939 shares of the company’s stock worth $2,602,000 after buying an additional 7,352 shares during the period. Whittier Trust Co. increased its position in McKesson by 1.5% in the third quarter. Whittier Trust Co. now owns 62,812 shares of the company’s stock worth $9,649,000 after buying an additional 898 shares during the period. River & Mercantile Asset Management LLP increased its position in McKesson by 278.6% in the third quarter. River & Mercantile Asset Management LLP now owns 177,824 shares of the company’s stock worth $27,321,000 after buying an additional 130,852 shares during the period. Synovus Financial Corp increased its position in McKesson by 62.8% in the third quarter. Synovus Financial Corp now owns 5,803 shares of the company’s stock worth $890,000 after buying an additional 2,238 shares during the period. Finally, Cypress Capital Management LLC increased its position in McKesson by 77.4% in the second quarter. Cypress Capital Management LLC now owns 3,861 shares of the company’s stock worth $635,000 after buying an additional 1,684 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.
McKesson Co. (NYSE:MCK) opened at $172.96 on Tuesday. The stock has a market capitalization of $36,060.00, a PE ratio of 8.19, a P/E/G ratio of 1.74 and a beta of 1.23. McKesson Co. has a fifty-two week low of $133.82 and a fifty-two week high of $173.88. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, November 30th. McKesson’s payout ratio is currently 6.44%.
In related news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $160.00, for a total transaction of $10,400,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by insiders.
Several equities research analysts have weighed in on the company. Robert W. Baird reaffirmed a “buy” rating and issued a $200.00 target price on shares of McKesson in a research report on Wednesday, January 17th. Mizuho set a $168.00 target price on McKesson and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Evercore ISI assumed coverage on McKesson in a research report on Thursday, January 4th. They issued an “outperform” rating and a $179.00 target price on the stock. Needham & Company LLC set a $179.00 target price on McKesson and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, ValuEngine raised McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. McKesson has a consensus rating of “Hold” and an average target price of $174.85.
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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