Applied Finance Capital Management LLC Grows Stake in McKesson Co. (NYSE:MCK)

Applied Finance Capital Management LLC grew its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,261 shares of the company's stock after buying an additional 4,478 shares during the period. Applied Finance Capital Management LLC's holdings in McKesson were worth $31,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after purchasing an additional 10,015 shares in the last quarter. Franklin Resources Inc. increased its position in McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after buying an additional 114,396 shares in the last quarter. Norges Bank bought a new position in McKesson during the 4th quarter valued at approximately $1,200,361,000. Boston Partners boosted its holdings in McKesson by 24.6% in the fourth quarter. Boston Partners now owns 1,096,301 shares of the company's stock worth $625,501,000 after acquiring an additional 216,432 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock worth $558,606,000 after acquiring an additional 162,688 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

MCK has been the subject of several recent analyst reports. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Mizuho lifted their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Bank of America increased their price target on shares of McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a report on Friday. Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company increased their target price on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $668.50.

McKesson Trading Up 1.6 %

MCK stock traded up $11.10 during trading on Friday, reaching $690.43. The stock had a trading volume of 841,601 shares, compared to its average volume of 881,074. The firm has a market cap of $86.53 billion, a PE ratio of 31.61, a PEG ratio of 1.29 and a beta of 0.49. The stock's 50 day moving average is $642.70 and its two-hundred day moving average is $593.86. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data 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%. On average, research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

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 of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson's dividend payout ratio is currently 13.00%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The shares were 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 $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,110 shares of company stock worth $10,855,706. Corporate insiders own 0.11% 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.