McKesson Co. (NYSE:MCK) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC raised its holdings in McKesson Co. (NYSE:MCK - Free Report) by 142.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,879 shares of the company's stock after purchasing an additional 12,251 shares during the period. Ieq Capital LLC's holdings in McKesson were worth $11,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cibc World Market Inc. increased its holdings in McKesson by 6.3% in the 4th 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 in the last quarter. Commerce Bank grew its position in shares of McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company's stock valued at $77,516,000 after purchasing an additional 3,020 shares during the period. West Oak Capital LLC increased its stake 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 purchasing an additional 2,690 shares in the last quarter. Brentview Investment Management LLC purchased a new position in McKesson in the 4th quarter valued at about $3,018,000. Finally, Ingalls & Snyder LLC boosted its holdings in McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after buying an additional 1,047 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MCK shares. Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Evercore ISI upped 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. Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Finally, Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $645.79.

McKesson Stock Down 0.8 %

NYSE MCK traded down $5.06 on Friday, reaching $598.46. The stock had a trading volume of 366,823 shares, compared to its average volume of 735,470. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a fifty day moving average price of $588.60 and a two-hundred day moving average price of $562.48. The firm has a market capitalization of $75.00 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 1.29 and a beta of 0.52.

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

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson's dividend payout ratio (DPR) is 13.00%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction dated Friday, February 14th. The stock was 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 owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company's stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,307 shares of company stock valued at $6,177,790. 0.11% of the stock is currently owned by company insiders.

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.