Investors purchased shares of McKesson Corporation (NYSE:MCK) on weakness during trading hours on Wednesday. $68.31 million flowed into the stock on the tick-up and $29.78 million flowed out of the stock on the tick-down, for a money net flow of $38.53 million into the stock. Of all stocks tracked, McKesson had the 21st highest net in-flow for the day. McKesson traded down ($0.22) for the day and closed at $150.47
Several analysts have weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of McKesson in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 target price on the stock. Jefferies Group set a $165.00 target price on shares of McKesson and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Cowen raised shares of McKesson from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $176.00 to $189.00 in a research report on Tuesday, October 10th. Needham & Company LLC set a $179.00 target price on shares of McKesson and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, BidaskClub downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. McKesson currently has an average rating of “Buy” and an average target price of $174.31.
The firm has a market cap of $31,915.36, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.57 and a beta of 1.23. 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 declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, November 30th. McKesson’s dividend payout ratio (DPR) is presently 6.45%.
In related news, SVP Erin M. Lampert sold 900 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the sale, the chief executive officer now directly owns 165,000 shares in the company, valued at $25,391,850. The disclosure for this sale can be found here. Insiders have sold 949,900 shares of company stock worth $145,403,445 over the last three months. 1.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MCK. Meeder Asset Management Inc. boosted its holdings in McKesson by 1,314.9% during the second quarter. Meeder Asset Management Inc. now owns 15,069 shares of the company’s stock worth $2,479,000 after buying an additional 14,004 shares in the last quarter. Liberty Capital Management Inc. raised its position in McKesson by 0.4% during the second quarter. Liberty Capital Management Inc. now owns 9,744 shares of the company’s stock worth $1,610,000 after acquiring an additional 34 shares during the period. BTR Capital Management Inc. raised its position in McKesson by 4.3% during the second quarter. BTR Capital Management Inc. now owns 1,930 shares of the company’s stock worth $318,000 after acquiring an additional 80 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in McKesson by 478.8% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 35,077 shares of the company’s stock worth $5,772,000 after acquiring an additional 29,017 shares during the period. Finally, Ledyard National Bank raised its position in McKesson by 57.5% during the second quarter. Ledyard National Bank now owns 1,890 shares of the company’s stock worth $311,000 after acquiring an additional 690 shares during the period. 88.10% of the stock is currently owned by hedge funds and other institutional investors.
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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