Investors Sell Shares of McKesson (MCK) on Strength (MCK)
Investors sold shares of McKesson Co. (NYSE:MCK) on strength during trading on Tuesday. $38.91 million flowed into the stock on the tick-up and $103.18 million flowed out of the stock on the tick-down, for a money net flow of $64.27 million out of the stock. Of all companies tracked, McKesson had the 22nd highest net out-flow for the day. McKesson traded up $0.74 for the day and closed at $154.55
A number of equities analysts have recently weighed in on MCK shares. Needham & Company LLC set a $178.00 price target on shares of McKesson and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Credit Suisse Group reaffirmed an “underperform” rating and set a $130.00 price target (down from $155.00) on shares of McKesson in a research note on Thursday, November 9th. TheStreet cut shares of McKesson from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Royal Bank of Canada reaffirmed a “hold” rating and set a $170.00 price target on shares of McKesson in a research note on Friday, October 27th. Finally, Morgan Stanley cut shares of McKesson from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $184.00 to $172.00 in a research note on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $174.31.
The firm has a market capitalization of $31,806.96, a P/E ratio of 12.55, 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be paid a $0.34 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.88%. McKesson’s payout ratio is 6.45%.
In related news, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $153.89, for a total value of $15,235,110.00. Following the sale, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,391,850. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John H. Hammergren sold 100,000 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $155.30, for a total transaction of $15,530,000.00. Following the completion of the sale, the chief executive officer now directly owns 165,000 shares in the company, valued at $25,624,500. The disclosure for this sale can be found here. Over the last three months, insiders sold 949,000 shares of company stock worth $145,263,360. 1.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MCK. Family Firm Inc. lifted its holdings in McKesson by 0.3% in the 2nd quarter. Family Firm Inc. now owns 1,922 shares of the company’s stock valued at $316,000 after purchasing an additional 5 shares in the last quarter. Cypress Capital Group lifted its holdings in McKesson by 0.3% in the 2nd quarter. Cypress Capital Group now owns 3,588 shares of the company’s stock valued at $590,000 after purchasing an additional 10 shares in the last quarter. Cadence Capital Management LLC lifted its holdings in McKesson by 0.4% in the 2nd quarter. Cadence Capital Management LLC now owns 8,621 shares of the company’s stock valued at $1,418,000 after purchasing an additional 36 shares in the last quarter. Savant Capital LLC lifted its holdings in McKesson by 1.6% in the 2nd quarter. Savant Capital LLC now owns 2,538 shares of the company’s stock valued at $418,000 after purchasing an additional 40 shares in the last quarter. Finally, WFG Advisors LP lifted its holdings in McKesson by 5.0% in the 2nd quarter. WFG Advisors LP now owns 859 shares of the company’s stock valued at $141,000 after purchasing an additional 41 shares in the last quarter. 88.10% of the stock is currently owned by hedge funds and other institutional investors.
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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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