First National Trust Co decreased its stake in shares of McKesson Co. (NYSE:MCK) by 21.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,558 shares of the company’s stock after selling 961 shares during the quarter. First National Trust Co’s holdings in McKesson were worth $554,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in shares of McKesson in the 2nd quarter valued at about $164,688,000. Baupost Group LLC MA bought a new stake in shares of McKesson in the 3rd quarter valued at about $76,805,000. Pzena Investment Management LLC raised its holdings in shares of McKesson by 17.2% in the 3rd quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock valued at $377,655,000 after purchasing an additional 360,676 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of McKesson by 51.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,017,320 shares of the company’s stock valued at $156,273,000 after purchasing an additional 345,865 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of McKesson by 2,499.1% in the 2nd quarter. Sterling Capital Management LLC now owns 355,560 shares of the company’s stock valued at $58,504,000 after purchasing an additional 341,880 shares in the last quarter. Institutional investors own 87.91% of the company’s stock.
McKesson Co. (NYSE:MCK) opened at $170.36 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61. McKesson Co. has a 12-month low of $133.82 and a 12-month high of $173.84. The stock has a market cap of $35,520.00, a P/E ratio of 8.07, a PEG ratio of 1.76 and a beta of 1.23.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Thursday, November 30th. McKesson’s payout ratio is currently 6.44%.
In other news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $160.00, for a total value of $10,400,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.
Several equities research analysts have recently commented on MCK shares. Needham & Company LLC set a $179.00 price target on shares of McKesson and gave the company a “buy” rating in a report on Monday, October 16th. ValuEngine upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $177.00 price target for the company in a report on Tuesday, December 26th. Deutsche Bank started coverage on shares of McKesson in a report on Monday, December 4th. They issued a “buy” rating and a $175.00 price target for the company. Finally, Robert W. Baird restated a “buy” rating and issued a $200.00 price target on shares of McKesson in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus 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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