Bank OZK Lowers Stake in McKesson Co. (NYSE:MCK)

Bank OZK lowered its stake in shares of McKesson Co. (NYSE:MCK) by 84.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 693 shares of the company’s stock after selling 3,662 shares during the period. Bank OZK’s holdings in McKesson were worth $395,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in shares of McKesson during the 4th quarter valued at $32,000. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the 3rd quarter valued at $29,000. Crews Bank & Trust bought a new position in shares of McKesson during the 4th quarter valued at $33,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson during the 3rd quarter valued at $31,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of McKesson during the 4th quarter valued at $44,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MCK. Morgan Stanley increased their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Finally, Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock valued at $11,536,378 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $640.82 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $641.70. The company’s 50-day moving average is $594.13 and its 200 day moving average is $564.09. The stock has a market capitalization of $80.31 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

About McKesson

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.