McKesson Co. (NYSE:MCK) Position Raised by Evergreen Capital Management LLC

Evergreen Capital Management LLC grew its holdings in McKesson Co. (NYSE:MCK - Free Report) by 4.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,850 shares of the company's stock after buying an additional 396 shares during the period. Evergreen Capital Management LLC's holdings in McKesson were worth $5,050,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Cibc World Market Inc. grew its holdings in McKesson by 6.3% during 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 during the period. West Oak Capital LLC grew its holdings in shares of McKesson by 867.7% during the fourth 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 in the last quarter. Brentview Investment Management LLC purchased a new stake in McKesson in the 4th quarter worth approximately $3,018,000. Ingalls & Snyder LLC raised its holdings in McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock valued at $7,878,000 after acquiring an additional 1,047 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock worth $558,606,000 after purchasing an additional 162,688 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MCK shares. Evercore ISI boosted their target price 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 raised their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Morgan Stanley boosted their price objective on McKesson from $642.00 to $745.00 and gave the stock 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 report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $668.50.

McKesson Price Performance

MCK traded up $10.83 during trading hours on Tuesday, hitting $693.32. 172,947 shares of the stock were exchanged, compared to its average volume of 920,983. The stock has a market cap of $86.89 billion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32. The stock has a 50-day simple moving average of $653.64 and a 200-day simple moving average of $602.38.

McKesson (NYSE:MCK - Get Free Report) last posted 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%. Sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.71 per share. 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 is currently 13.00%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the business'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 owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. 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 in the last quarter. Company insiders own 0.11% of the company's stock.

About McKesson

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.