McKesson Co. (NYSE:MCK) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 16.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 928,462 shares of the company's stock after selling 181,446 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.73% of McKesson worth $529,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cibc World Market Inc. grew its position in McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after acquiring an additional 1,207 shares in the last quarter. West Oak Capital LLC lifted its position in McKesson by 867.7% in the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock worth $1,710,000 after buying an additional 2,690 shares during the last quarter. Brentview Investment Management LLC purchased a new stake in McKesson in the fourth quarter worth approximately $3,018,000. Ingalls & Snyder LLC raised its stake in shares of McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after purchasing an additional 162,688 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Morgan Stanley raised their price objective on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America lowered their price target on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Wells Fargo & Company upped their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Finally, Mizuho raised their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $661.00.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now 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. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 over the last quarter. 0.11% of the stock is owned by corporate insiders.

McKesson Price Performance

Shares of McKesson stock traded up $20.88 during trading on Thursday, hitting $714.41. The stock had a trading volume of 975,968 shares, compared to its average volume of 841,595. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $722.81. The stock has a market cap of $89.53 billion, a PE ratio of 32.71, a PEG ratio of 1.29 and a beta of 0.52. The firm's fifty day simple moving average is $629.16 and its 200-day simple moving average is $582.85.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly 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%. Analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

McKesson 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.