Neuberger Berman Group LLC Sells 2,697 Shares of McKesson Co. (NYSE:MCK)

Neuberger Berman Group LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 63,093 shares of the company’s stock after selling 2,697 shares during the period. Neuberger Berman Group LLC’s holdings in McKesson were worth $35,957,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of MCK. Millstone Evans Group LLC purchased a new position in shares of McKesson during the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC bought a new position in McKesson during the 4th quarter valued at $32,000. Crews Bank & Trust purchased a new position in McKesson during the 4th quarter worth $33,000. Atala Financial Inc bought a new stake in shares of McKesson in the 4th quarter worth $34,000. Finally, Graney & King LLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Mizuho upped their target price on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Morgan Stanley lifted their price target on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $661.00.

McKesson Stock Up 0.9 %

NYSE MCK opened at $678.08 on Friday. The company has a market cap of $84.98 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The firm’s 50-day simple moving average is $640.96 and its two-hundred day simple moving average is $591.60. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $733.64.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is owned by company insiders.

McKesson Company Profile

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.