McKesson Co. (NYSE:MCK) Holdings Raised by Capital Performance Advisors LLP

Capital Performance Advisors LLP boosted its holdings in McKesson Co. (NYSE:MCK) by 1,155.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 364 shares of the company’s stock after acquiring an additional 335 shares during the quarter. Capital Performance Advisors LLP’s holdings in McKesson were worth $208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. International Assets Investment Management LLC increased its stake in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after purchasing an additional 734,849 shares in the last quarter. FMR LLC increased its stake in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Janus Henderson Group PLC increased its stake in McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after purchasing an additional 321,119 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 1,346 shares of company stock worth $795,275. 0.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Stock Performance

MCK opened at $593.82 on Monday. The business has a 50 day moving average price of $587.26 and a 200 day moving average price of $562.76. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The firm has a market cap of $75.38 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, analysts anticipate that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio (DPR) 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.