McKesson (NYSE:MCK) Reaches New 1-Year High at $515.58

McKesson Co. (NYSE:MCKGet Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $515.58 and last traded at $515.16, with a volume of 72751 shares. The stock had previously closed at $507.94.

Analysts Set New Price Targets

MCK has been the topic of a number of analyst reports. Mizuho lifted their target price on shares of McKesson from $427.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Wells Fargo & Company initiated coverage on shares of McKesson in a research note on Thursday, December 14th. They set an “equal weight” rating and a $502.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of McKesson from $495.00 to $514.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Finally, UBS Group boosted their price target on shares of McKesson from $525.00 to $559.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $495.38.

View Our Latest Stock Analysis on McKesson

McKesson Trading Up 2.0 %

The company has a market capitalization of $68.79 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 1.77 and a beta of 0.44. The stock’s fifty day simple moving average is $473.90 and its 200-day simple moving average is $450.32.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, February 29th. McKesson’s dividend payout ratio is presently 9.80%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 14,026 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total value of $6,732,480.00. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Mine & Arao Wealth Creation & Management LLC. grew its position in shares of McKesson by 313.3% in the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 62 shares of the company’s stock valued at $26,000 after buying an additional 47 shares during the last quarter. Legacy Financial Group LLC purchased a new position in McKesson during the 3rd quarter worth $27,000. OFI Invest Asset Management purchased a new position in McKesson during the 3rd quarter worth $26,000. BKM Wealth Management LLC purchased a new position in McKesson during the 4th quarter worth $31,000. Finally, Live Oak Investment Partners purchased a new position in McKesson during the 4th quarter worth $30,000. 82.69% of the stock is owned by hedge funds and other institutional investors.

McKesson Company Profile

(Get 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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