ValuEngine downgraded shares of McKesson (NYSE:MCK) from a buy rating to a hold rating in a research note released on Thursday.
Other research analysts have also recently issued reports about the company. Zacks Investment Research cut McKesson from a buy rating to a hold rating in a research note on Thursday. Mizuho set a $168.00 price objective on McKesson and gave the stock a hold rating in a research note on Tuesday, October 24th. Robert W. Baird restated a buy rating and issued a $200.00 price objective on shares of McKesson in a research note on Wednesday, January 17th. Jefferies Group upgraded McKesson from a hold rating to a buy rating and set a $205.00 price objective for the company in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada restated a hold rating and issued a $170.00 price objective on shares of McKesson in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $177.50.
Shares of McKesson (NYSE MCK) opened at $150.50 on Thursday. McKesson has a 12 month low of $133.82 and a 12 month high of $178.86. The company has a market capitalization of $31,054.02, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 1st will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.90%. The ex-dividend date is Wednesday, February 28th. McKesson’s dividend payout ratio is currently 6.03%.
In related news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $160.00, for a total transaction of $10,400,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Vulcan Value Partners LLC grew its holdings in McKesson by 9.2% in the fourth quarter. Vulcan Value Partners LLC now owns 3,612,389 shares of the company’s stock valued at $563,352,000 after purchasing an additional 305,492 shares during the period. Bank of New York Mellon Corp grew its holdings in McKesson by 6.2% in the fourth quarter. Bank of New York Mellon Corp now owns 2,697,323 shares of the company’s stock valued at $420,648,000 after purchasing an additional 157,018 shares during the period. Pzena Investment Management LLC grew its holdings in McKesson by 5.8% in the fourth quarter. Pzena Investment Management LLC now owns 2,600,401 shares of the company’s stock valued at $405,533,000 after purchasing an additional 141,870 shares during the period. Alliancebernstein L.P. grew its holdings in McKesson by 1.5% in the fourth quarter. Alliancebernstein L.P. now owns 2,450,313 shares of the company’s stock valued at $382,126,000 after purchasing an additional 37,023 shares during the period. Finally, Geode Capital Management LLC grew its holdings in McKesson by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 2,270,865 shares of the company’s stock valued at $353,418,000 after purchasing an additional 12,150 shares during the period. Institutional investors own 86.63% of the company’s stock.
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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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