American Century Companies Inc. Sells 13,566 Shares of McKesson Co. (NYSE:MCK)

American Century Companies Inc. reduced its position in shares of McKesson Co. (NYSE:MCKFree Report) by 12.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 96,239 shares of the company’s stock after selling 13,566 shares during the quarter. American Century Companies Inc. owned 0.07% of McKesson worth $41,850,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MCK. Covestor Ltd grew its stake in shares of McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares during the period. OFI Invest Asset Management bought a new stake in shares of McKesson in the third quarter worth approximately $26,000. Legacy Financial Group LLC purchased a new position in shares of McKesson in the third quarter worth approximately $27,000. Live Oak Investment Partners purchased a new position in shares of McKesson in the fourth quarter worth approximately $30,000. Finally, Avior Wealth Management LLC boosted its holdings in shares of McKesson by 50.0% in the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after buying an additional 28 shares during the last quarter. 82.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction 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 $20,853,600. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MCK. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Mizuho lifted their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. UBS Group lifted their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, TD Cowen lifted their price target on shares of McKesson from $508.00 to $563.00 and gave the company an “outperform” rating in a report on Monday, December 11th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $522.21.

View Our Latest Analysis on McKesson

McKesson Stock Performance

Shares of MCK opened at $533.64 on Monday. McKesson Co. has a fifty-two week low of $332.40 and a fifty-two week high of $537.26. The stock has a market capitalization of $70.12 billion, a PE ratio of 24.18, a P/E/G ratio of 1.59 and a beta of 0.44. The company’s fifty day moving average is $505.10 and its 200 day moving average is $468.82.

McKesson (NYSE:MCKGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the previous year, the business posted $6.90 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, research analysts forecast that McKesson Co. will post 27.61 earnings per share for the current year.

McKesson Dividend Announcement

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 dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is 11.24%.

About McKesson

(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.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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