Alambic Investment Management L.P. lowered its position in shares of McKesson (NYSE:MCK) by 12.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,720 shares of the company’s stock after selling 1,050 shares during the period. Alambic Investment Management L.P.’s holdings in McKesson were worth $1,088,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Icon Wealth Partners LLC purchased a new position in McKesson in the fourth quarter valued at about $111,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its stake in McKesson by 176.6% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 769 shares of the company’s stock valued at $130,000 after purchasing an additional 491 shares during the last quarter. Certified Advisory Corp grew its stake in McKesson by 86.8% in the first quarter. Certified Advisory Corp now owns 964 shares of the company’s stock valued at $135,000 after purchasing an additional 448 shares during the last quarter. Jacobi Capital Management LLC grew its stake in McKesson by 61.5% in the first quarter. Jacobi Capital Management LLC now owns 985 shares of the company’s stock valued at $138,000 after purchasing an additional 375 shares during the last quarter. Finally, Hikari Tsushin Inc. purchased a new position in McKesson in the fourth quarter valued at about $151,000. Hedge funds and other institutional investors own 89.99% of the company’s stock.
McKesson opened at $148.92 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 0.61. McKesson has a 52 week low of $134.25 and a 52 week high of $178.86. The stock has a market cap of $31.16 billion, a P/E ratio of 12.83, a PEG ratio of 1.39 and a beta of 1.31.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 1st will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Thursday, May 31st. McKesson’s dividend payout ratio (DPR) is 11.71%.
In related news, SVP Erin M. Lampert sold 1,413 shares of McKesson stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $149.38, for a total transaction of $211,073.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.
MCK has been the subject of several recent analyst reports. Bank of America initiated coverage on McKesson in a report on Tuesday, February 27th. They issued a “buy” rating and a $179.00 price target for the company. Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $164.00 price target for the company in a report on Wednesday, February 14th. Jefferies Group raised McKesson from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a report on Wednesday, January 24th. Needham & Company LLC raised their price target on McKesson from $173.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Barclays initiated coverage on McKesson in a report on Thursday, March 8th. They issued an “equal weight” rating and a $165.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $176.32.
McKesson Company Profile
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes branded and generic pharmaceutical drugs, and other healthcare-related products; and provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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