Geode Capital Management LLC Buys 10,015 Shares of McKesson Co. (NYSE:MCK)

Geode Capital Management LLC lifted its stake in McKesson Co. (NYSE:MCK) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,663,303 shares of the company’s stock after purchasing an additional 10,015 shares during the period. Geode Capital Management LLC owned 2.10% of McKesson worth $1,513,195,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MCK. Millstone Evans Group LLC bought a new stake in shares of McKesson during the fourth quarter worth $28,000. Synergy Asset Management LLC acquired a new stake in McKesson in the fourth quarter worth about $32,000. Crews Bank & Trust bought a new stake in McKesson during the 4th quarter worth about $33,000. Atala Financial Inc acquired a new position in McKesson during the 4th quarter valued at about $34,000. Finally, Graney & King LLC bought a new position in shares of McKesson in the 4th quarter valued at about $38,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MCK shares. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Stock Up 0.2 %

McKesson stock opened at $674.30 on Wednesday. The company has a 50 day moving average of $626.97 and a 200-day moving average of $582.06. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $678.67. The stock has a market capitalization of $84.51 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

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

McKesson Announces Dividend

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

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 in the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

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.