Advisors Capital Management LLC Increases Position in McKesson Co. (NYSE:MCK)

Advisors Capital Management LLC raised its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 45,959 shares of the company's stock after buying an additional 1,157 shares during the period. Advisors Capital Management LLC's holdings in McKesson were worth $26,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. TD Private Client Wealth LLC boosted its position in McKesson by 10.5% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,593 shares of the company's stock worth $788,000 after purchasing an additional 151 shares in the last quarter. Te Ahumairangi Investment Management Ltd boosted its holdings in McKesson by 19.2% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 11,729 shares of the company's stock worth $5,766,000 after buying an additional 1,890 shares in the last quarter. Sanctuary Advisors LLC grew its position in McKesson by 25.5% during the third quarter. Sanctuary Advisors LLC now owns 28,487 shares of the company's stock valued at $14,085,000 after buying an additional 5,790 shares during the period. World Investment Advisors LLC purchased a new position in McKesson in the third quarter valued at $2,229,000. Finally, Wilmington Savings Fund Society FSB raised its position in shares of McKesson by 817.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,622 shares of the company's stock worth $2,780,000 after acquiring an additional 5,009 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

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Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now owns 69,625 shares of the company's stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value 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 approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,110 shares of company stock worth $10,855,706. Insiders own 0.11% of the company's stock.

Analyst Ratings Changes

MCK has been the subject of several recent analyst reports. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Morgan Stanley boosted their price objective on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Bank of America boosted their price target on shares of McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a report on Friday. Finally, Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Three 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.com, McKesson currently has an average rating of "Moderate Buy" and a consensus target price of $668.50.

McKesson Trading Down 0.2 %

MCK stock traded down $1.55 during mid-day trading on Tuesday, reaching $692.43. The company's stock had a trading volume of 670,601 shares, compared to its average volume of 883,286. The stock has a market cap of $86.78 billion, a PE ratio of 31.70, a P/E/G ratio of 1.29 and a beta of 0.49. The company's 50 day moving average is $646.34 and its two-hundred day moving average is $595.97. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio is currently 13.00%.

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.