Hsbc Holdings PLC Boosts Stock Position in McKesson Co. (NYSE:MCK)

Hsbc Holdings PLC grew its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,470 shares of the company's stock after buying an additional 2,336 shares during the period. Hsbc Holdings PLC owned 0.23% of McKesson worth $164,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Cibc World Market Inc. raised 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 purchasing an additional 1,207 shares in the last quarter. West Oak Capital LLC lifted its position in McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock valued at $1,710,000 after acquiring an additional 2,690 shares during the last quarter. Brentview Investment Management LLC acquired a new position in McKesson in the fourth quarter valued at $3,018,000. Ingalls & Snyder LLC grew its holdings in shares of McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $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.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCK. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Three equities research 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $668.50.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares of the company's stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were 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. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 in the last ninety days. Corporate insiders own 0.11% of the company's stock.

McKesson Trading Up 1.9 %

Shares of McKesson stock opened at $695.61 on Wednesday. The company has a 50-day moving average of $655.50 and a two-hundred day moving average of $603.03. The stock has a market cap of $87.18 billion, a PE ratio of 31.85, 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.

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 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, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

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.

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