DRW Securities LLC Makes New $786,000 Investment in McKesson Co. (NYSE:MCK)

DRW Securities LLC purchased a new stake in McKesson Co. (NYSE:MCK - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,380 shares of the company's stock, valued at approximately $786,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of McKesson during the 4th quarter worth approximately $1,200,361,000. Proficio Capital Partners LLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $178,397,000. Alliancebernstein L.P. grew its holdings in shares of McKesson by 46.6% during the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company's stock worth $487,462,000 after buying an additional 272,068 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of McKesson during the fourth quarter worth $128,125,000. Finally, Boston Partners increased its position in McKesson by 24.6% during the 4th quarter. Boston Partners now owns 1,096,301 shares of the company's stock worth $625,501,000 after purchasing an additional 216,432 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Mizuho lifted their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Morgan Stanley raised their price target on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Finally, Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $668.50.

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Insider Activity

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock worth $10,855,706 over the last three months. Corporate insiders own 0.11% of the company's stock.

McKesson Trading Down 0.2 %

MCK traded down $1.10 on Tuesday, hitting $692.88. 270,930 shares of the company's stock were exchanged, compared to its average volume of 879,714. The stock has a fifty day moving average of $644.47 and a two-hundred day moving average of $595.30. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The firm has a market cap of $86.84 billion, a PE ratio of 31.73, a P/E/G ratio of 1.29 and a beta of 0.49.

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

McKesson Announces Dividend

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