Eastern Bank bought a new position in McKesson Co. (NYSE:MCK – Free Report) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 521 shares of the company’s stock, valued at approximately $258,000.
Other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in shares of McKesson in the 1st quarter worth approximately $28,000. Register Financial Advisors LLC purchased a new stake in shares of McKesson in the 1st quarter worth approximately $29,000. Wolff Wiese Magana LLC grew its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the 3rd quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson in the 2nd quarter worth approximately $52,000. Institutional investors own 85.07% of the company’s stock.
McKesson Stock Performance
Shares of McKesson stock opened at $504.96 on Friday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock’s fifty day moving average is $518.29 and its 200 day moving average is $551.37. The stock has a market cap of $65.61 billion, a P/E ratio of 22.56, a P/E/G ratio of 1.17 and a beta of 0.44.
McKesson Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were issued a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s dividend payout ratio (DPR) is currently 12.69%.
Analyst Ratings Changes
Several research firms recently weighed in on MCK. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Robert W. Baird reiterated a “neutral” rating and set a $531.00 target price (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Citigroup cut their target price on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, Mizuho increased their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $610.86.
Check Out Our Latest Stock Report on McKesson
Insider Buying and Selling
In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by insiders.
About McKesson
McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.
See Also
- Five stocks we like better than McKesson
- The Top 3 Healthcare Dividend Stocks to Buy and Hold
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- How to invest in marijuana stocks in 7 stepsĀ
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- How to Invest in Blue Chip Stocks
- Tesla Stock: Buy the Dips, Sell the Rips
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK – Free Report).
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.