Westwood Holdings Group Inc. Sells 107,903 Shares of McKesson Co. (NYSE:MCK)
Westwood Holdings Group Inc. lowered its stake in shares of McKesson Co. (NYSE:MCK – Free Report) by 99.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 645 shares of the company’s stock after selling 107,903 shares during the quarter. Westwood Holdings Group Inc.’s holdings in McKesson were worth $276,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of MCK. Price T Rowe Associates Inc. MD increased its position in shares of McKesson by 324.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,235,797 shares of the company’s stock valued at $1,152,107,000 after purchasing an additional 2,472,584 shares during the last quarter. Norges Bank bought a new position in McKesson in the 4th quarter valued at $633,960,000. Envestnet Asset Management Inc. grew its position in McKesson by 587.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,208,193 shares of the company’s stock valued at $61,655,000 after acquiring an additional 1,032,363 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in McKesson by 94,078.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock valued at $223,628,000 after acquiring an additional 595,518 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in McKesson in the 2nd quarter valued at $213,522,000. Institutional investors own 82.69% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on MCK shares. TD Cowen upped their price objective on McKesson from $491.00 to $495.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. JPMorgan Chase & Co. upped their target price on McKesson from $495.00 to $514.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Argus upped their target price on McKesson from $450.00 to $480.00 and gave the stock a “buy” rating in a report on Monday, October 9th. StockNews.com initiated coverage on McKesson in a report on Thursday, October 5th. They issued a “strong-buy” rating for the company. Finally, Evercore ISI upped their target price on McKesson from $485.00 to $490.00 in a report on Wednesday, October 11th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $472.83.
View Our Latest Stock Analysis on MCK
Insider Activity at McKesson
In related news, CEO Brian S. Tyler sold 3,938 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $407.00, for a total transaction of $1,602,766.00. Following the transaction, the chief executive officer now directly owns 117,900 shares of the company’s stock, valued at approximately $47,985,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Brian S. Tyler sold 3,938 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $407.00, for a total value of $1,602,766.00. Following the transaction, the chief executive officer now directly owns 117,900 shares of the company’s stock, valued at $47,985,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 25,246 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $422.58, for a total value of $10,668,454.68. Following the completion of the transaction, the chief executive officer now directly owns 92,654 shares in the company, valued at $39,153,727.32. The disclosure for this sale can be found here. Insiders have sold 69,082 shares of company stock valued at $30,258,690 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.
McKesson Price Performance
Shares of NYSE MCK opened at $464.56 on Friday. The stock has a market capitalization of $61.81 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 1.65 and a beta of 0.54. McKesson Co. has a 1-year low of $331.75 and a 1-year high of $476.35. The business has a fifty day moving average price of $453.52 and a 200 day moving average price of $426.75.
McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $6.11 by $0.12. McKesson had a negative return on equity of 241.79% and a net margin of 1.20%. The firm had revenue of $77.22 billion during the quarter, compared to analysts’ expectations of $76.03 billion. During the same period in the prior year, the business posted $6.06 EPS. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts anticipate that McKesson Co. will post 27.25 earnings per share for the current fiscal year.
McKesson Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson’s dividend payout ratio is currently 9.80%.
McKesson Profile (Free Report)
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.
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Original: MarketBeat News Feed: Westwood Holdings Group Inc. Sells 107,903 Shares of McKesson Co. (NYSE:MCK)