McKesson Co. (NYSE:MCK) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP grew its stake in McKesson Co. (NYSE:MCK - Free Report) by 33.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 329,363 shares of the company's stock after acquiring an additional 83,126 shares during the quarter. McKesson comprises approximately 0.9% of Bridgewater Associates LP's portfolio, making the stock its 14th biggest holding. Bridgewater Associates LP owned approximately 0.26% of McKesson worth $187,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Kane Investment Management Inc. purchased a new position in McKesson during the fourth quarter worth about $741,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of McKesson in the fourth quarter worth approximately $641,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in McKesson during the fourth quarter worth approximately $20,130,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of McKesson in the 4th quarter valued at $1,194,000. Finally, Belpointe Asset Management LLC increased its holdings in shares of McKesson by 6.3% during the 4th quarter. Belpointe Asset Management LLC now owns 1,685 shares of the company's stock worth $945,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the company'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 approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson 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 transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

Shares of NYSE MCK traded up $2.52 during midday trading on Friday, reaching $697.22. 1,044,943 shares of the company's stock were exchanged, compared to its average volume of 888,394. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.32. The business's fifty day moving average price is $651.89 and its two-hundred day moving average price is $599.41. The stock has a market capitalization of $87.38 billion, a PE ratio of 31.92, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Bank of America boosted their price target on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. 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 research note on Friday, March 14th. Finally, StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Three 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's stock. According to data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $668.50.

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.