1,301 Shares in McKesson Co. (NYSE:MCK) Bought by Kane Investment Management Inc.

Kane Investment Management Inc. purchased a new stake in McKesson Co. (NYSE:MCK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,301 shares of the company's stock, valued at approximately $741,000.

Several other hedge funds also recently modified their holdings of MCK. Cibc World Market Inc. boosted its stake in shares of McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock valued at $11,542,000 after purchasing an additional 1,207 shares during the last quarter. West Oak Capital LLC lifted its stake in shares of McKesson by 867.7% in the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock valued at $1,710,000 after purchasing an additional 2,690 shares during the period. Brentview Investment Management LLC acquired a new stake in McKesson during the fourth quarter worth approximately $3,018,000. Ingalls & Snyder LLC increased its holdings in McKesson by 8.2% in 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 in the last quarter. Finally, Nordea Investment Management AB lifted its stake in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after buying an additional 162,688 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho lifted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Bank of America boosted their target price on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and an average price target of $668.50.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson 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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is currently owned by insiders.

McKesson Stock Up 0.4 %

NYSE MCK traded up $2.52 during trading hours on Friday, hitting $697.22. 1,044,943 shares of the company 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 stock has a 50-day moving average price of $651.89 and a 200 day moving average price of $599.41. The stock has a market cap 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 earnings per share 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%. As a group, sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date 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%.

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.