McKesson Co. (NYSE:MCK) Shares Bought by Wright Investors Service Inc.

Wright Investors Service Inc. lifted its holdings in McKesson Co. (NYSE:MCK) by 39.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,902 shares of the company’s stock after buying an additional 1,673 shares during the quarter. Wright Investors Service Inc.’s holdings in McKesson were worth $2,733,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. HF Advisory Group LLC increased its position in shares of McKesson by 21.0% in the fourth quarter. HF Advisory Group LLC now owns 646 shares of the company’s stock worth $299,000 after acquiring an additional 112 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of McKesson by 1.4% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,582 shares of the company’s stock worth $3,973,000 after acquiring an additional 119 shares in the last quarter. KLCM Advisors Inc. increased its position in shares of McKesson by 15.0% in the fourth quarter. KLCM Advisors Inc. now owns 630 shares of the company’s stock worth $292,000 after acquiring an additional 82 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of McKesson by 32.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,344 shares of the company’s stock worth $22,382,000 after acquiring an additional 11,923 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. boosted its stake in shares of McKesson by 357.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 6,476 shares of the company’s stock valued at $2,998,000 after purchasing an additional 5,059 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK traded down $5.82 on Thursday, reaching $520.10. 134,109 shares of the company traded hands, compared to its average volume of 682,400. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00. The company’s 50 day moving average is $523.95 and its 200-day moving average is $485.48. The stock has a market capitalization of $68.35 billion, a PE ratio of 23.83, a P/E/G ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter in the prior year, the firm earned $6.90 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, analysts expect that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.48%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays assumed coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price for the company. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Citigroup upped their target price on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Morgan Stanley upped their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $533.50.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

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.