Bank OZK Raises Position in McKesson Co. (NYSE:MCK)

Bank OZK grew its holdings in shares of McKesson Co. (NYSE:MCK) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,958 shares of the company’s stock after purchasing an additional 80 shares during the quarter. Bank OZK’s holdings in McKesson were worth $1,832,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MCK. International Assets Investment Management LLC lifted its stake in shares of McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after purchasing an additional 749,504 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the period. Morgan Stanley lifted its stake in shares of McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of McKesson by 92.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock worth $246,969,000 after buying an additional 272,266 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of McKesson by 5,683.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock worth $104,178,000 after buying an additional 221,125 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MCK. UBS Group increased their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Barclays began coverage on McKesson in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price on the stock. Morgan Stanley increased their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Finally, SVB Leerink assumed coverage on McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Stock Up 0.6 %

Shares of McKesson stock traded up $3.36 during trading hours on Friday, hitting $543.30. 654,669 shares of the company’s stock traded hands, compared to its average volume of 493,786. The stock has a 50 day simple moving average of $528.15 and a 200-day simple moving average of $489.48. The company has a market cap of $71.40 billion, a PE ratio of 24.62, a PEG ratio of 1.43 and a beta of 0.45. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $544.81.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $6.90 earnings per share. As a group, equities research analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is 11.24%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

McKesson Profile

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.