Barclays initiated coverage on shares of McKesson (NYSE:MCK) in a research note published on Thursday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $165.00 target price on the stock.
Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of McKesson from a hold rating to a buy rating and set a $189.00 price objective for the company in a report on Friday, February 2nd. ValuEngine downgraded shares of McKesson from a buy rating to a hold rating in a report on Thursday, February 15th. Bank of America began coverage on shares of McKesson in a report on Tuesday, February 27th. They issued a buy rating and a $179.00 price objective for the company. Robert W. Baird reissued a buy rating and issued a $200.00 price objective on shares of McKesson in a report on Wednesday, January 17th. Finally, Mizuho set a $186.00 target price on shares of McKesson and gave the company a hold rating in a research report on Wednesday, January 24th. Two research 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. The stock currently has an average rating of Hold and an average price target of $176.74.
Shares of McKesson (MCK) opened at $155.79 on Thursday. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock has a market cap of $32,145.55, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.48 and a beta of 1.29. McKesson has a twelve month low of $133.82 and a twelve month high of $178.86.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Wednesday, February 28th. McKesson’s payout ratio is presently 6.03%.
In related news, Chairman John H. Hammergren sold 65,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $160.00, for a total transaction of $10,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Erin M. Lampert sold 1,413 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $149.38, for a total transaction of $211,073.94. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Icon Wealth Partners LLC acquired a new position in McKesson during the 4th quarter worth approximately $111,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in McKesson by 176.6% during the 4th quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 769 shares of the company’s stock worth $130,000 after purchasing an additional 491 shares in the last quarter. Hikari Tsushin Inc. acquired a new position in McKesson during the 4th quarter worth approximately $151,000. Wealthcare Advisory Partners LLC acquired a new position in McKesson during the 3rd quarter worth approximately $155,000. Finally, Virtue Capital Management LLC acquired a new position in McKesson during the 4th quarter worth approximately $180,000. Institutional investors and hedge funds own 87.98% of the company’s stock.
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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