Bessemer Group Inc. Raises Stock Holdings in McKesson Co. (NYSE:MCK)

Bessemer Group Inc. grew its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 561,961 shares of the company's stock after buying an additional 74,256 shares during the period. Bessemer Group Inc. owned 0.44% of McKesson worth $320,268,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MCK. DRW Securities LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $786,000. Texas Yale Capital Corp. increased its position in McKesson by 0.7% during the 4th quarter. Texas Yale Capital Corp. now owns 2,891 shares of the company's stock valued at $1,648,000 after buying an additional 20 shares in the last quarter. APG Asset Management N.V. raised its stake in McKesson by 87.3% during the fourth quarter. APG Asset Management N.V. now owns 145,706 shares of the company's stock valued at $80,192,000 after buying an additional 67,913 shares during the last quarter. Applied Finance Capital Management LLC grew its stake in shares of McKesson by 8.8% in the fourth quarter. Applied Finance Capital Management LLC now owns 55,261 shares of the company's stock worth $31,494,000 after acquiring an additional 4,478 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of McKesson by 168.4% during the fourth quarter. Renaissance Technologies LLC now owns 235,226 shares of the company's stock valued at $134,058,000 after acquiring an additional 147,600 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

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Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company's stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction dated 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 owns 1,051 shares in the company, 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. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 over the last 90 days. Company insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCK. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Mizuho increased 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, April 3rd. Wells Fargo & Company boosted their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Morgan Stanley increased their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Bank of America boosted their price target on McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a research note on Friday. Three investment 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 company's stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average price target of $668.50.

McKesson Trading Down 0.0 %

MCK stock traded down $0.28 during midday trading on Monday, reaching $689.08. 346,509 shares of the company's stock traded hands, compared to its average volume of 878,982. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.32. The stock has a market cap of $86.36 billion, a P/E ratio of 31.55, a PEG ratio of 1.29 and a beta of 0.49. The stock's 50-day moving average is $642.70 and its 200 day moving average is $593.86.

McKesson (NYSE:MCK - Get Free Report) last announced 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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