3,903 Shares in McKesson Co. (NYSE:MCK) Acquired by Allstate Corp

Allstate Corp acquired a new stake in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,903 shares of the company's stock, valued at approximately $2,224,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of McKesson in the fourth quarter worth about $1,200,361,000. Janus Henderson Group PLC grew its stake in McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock valued at $283,903,000 after acquiring an additional 321,119 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in McKesson in the 4th quarter valued at about $178,397,000. Raymond James Financial Inc. purchased a new position in McKesson in the 4th quarter worth approximately $128,125,000. Finally, Boston Partners boosted its holdings in shares of McKesson by 24.6% during the 4th quarter. Boston Partners now owns 1,096,301 shares of the company's stock worth $625,501,000 after purchasing an additional 216,432 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Up 3.0 %

NYSE MCK traded up $20.84 during trading on Thursday, hitting $714.37. The stock had a trading volume of 877,899 shares, compared to its average volume of 841,222. The company has a market capitalization of $89.53 billion, a PE ratio of 32.71, a PEG ratio of 1.29 and a beta of 0.52. The firm has a 50 day moving average price of $629.16 and a 200 day moving average price of $582.85. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $722.81.

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McKesson (NYSE:MCK - Get Free Report) last announced 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%. On average, sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Wells Fargo & Company boosted their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Morgan Stanley raised their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and an average price target of $661.00.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were 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 directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 in the last quarter. 0.11% of the stock is owned by company 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.