McKesson Co. (NYSE:MCK) Stock Position Decreased by Bank of Hawaii

Bank of Hawaii reduced its position in McKesson Co. (NYSE:MCK - Free Report) by 13.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,182 shares of the company's stock after selling 498 shares during the period. Bank of Hawaii's holdings in McKesson were worth $1,813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. raised its stake in McKesson by 15.2% in the 4th quarter. Bessemer Group Inc. now owns 561,961 shares of the company's stock worth $320,268,000 after acquiring an additional 74,256 shares during the last quarter. DRW Securities LLC purchased a new position in McKesson during the fourth quarter valued at approximately $786,000. Texas Yale Capital Corp. boosted its position in McKesson by 0.7% in the 4th quarter. Texas Yale Capital Corp. now owns 2,891 shares of the company's stock worth $1,648,000 after purchasing an additional 20 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of McKesson by 87.3% during the 4th quarter. APG Asset Management N.V. now owns 145,706 shares of the company's stock worth $80,192,000 after purchasing an additional 67,913 shares during the period. Finally, Applied Finance Capital Management LLC increased its holdings in shares of McKesson by 8.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 55,261 shares of the company's stock valued at $31,494,000 after purchasing an additional 4,478 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. 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. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Three equities research 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $668.50.

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McKesson Price Performance

NYSE:MCK traded down $1.10 during mid-day trading on Tuesday, reaching $692.88. The company's stock had a trading volume of 270,930 shares, compared to its average volume of 879,732. The company's fifty day simple moving average is $644.47 and its two-hundred day simple moving average is $595.30. The stock has a market cap of $86.84 billion, a P/E ratio of 31.73, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results 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 net margin of 0.82% and a negative return on equity of 181.26%. Sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,110 shares of company stock valued at $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.