BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 3,186 Shares of McKesson Co. (NYSE:MCK)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in McKesson Co. (NYSE:MCK) by 14.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,832 shares of the company’s stock after purchasing an additional 3,186 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in McKesson were worth $14,152,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cibc World Market Inc. raised its holdings in shares of McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after acquiring an additional 1,207 shares in the last quarter. Brentview Investment Management LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $3,018,000. Ingalls & Snyder LLC raised its stake in McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after purchasing an additional 1,047 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in McKesson by 85.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company’s stock valued at $745,000 after purchasing an additional 580 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in McKesson by 6.4% during the fourth quarter. Blue Trust Inc. now owns 7,830 shares of the company’s stock valued at $4,462,000 after purchasing an additional 468 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MCK shares. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Evercore ISI increased 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. Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Bank of America increased their price objective on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Morgan Stanley raised their price objective on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $686.69.

McKesson Stock Performance

NYSE:MCK opened at $717.95 on Thursday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00. The firm has a market cap of $89.82 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The business has a 50 day moving average price of $687.71 and a 200-day moving average price of $631.12.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analysts’ expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.18 EPS. Research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson’s dividend payout ratio is currently 10.99%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares of the company’s stock, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their position. The disclosure for this sale can be found here. 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.