King Luther Capital Management Corp Increases Holdings in McKesson Co. (NYSE:MCK)

King Luther Capital Management Corp boosted its holdings in McKesson Co. (NYSE:MCK - Free Report) by 47.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,172 shares of the company's stock after purchasing an additional 9,998 shares during the period. King Luther Capital Management Corp's holdings in McKesson were worth $17,765,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCK. Synergy Asset Management LLC bought a new position in shares of McKesson during the fourth quarter valued at about $32,000. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson in the 3rd quarter valued at approximately $29,000. Crews Bank & Trust bought a new stake in shares of McKesson during the 4th quarter valued at $33,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson during the third quarter worth about $31,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $44,000. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target on the stock. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Finally, Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $645.79.

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Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the company'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 in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson 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 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 position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 in the last three months. Corporate insiders own 0.11% of the company's stock.

McKesson Stock Down 0.8 %

Shares of McKesson stock opened at $653.54 on Wednesday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $663.61. The business has a 50-day moving average price of $604.12 and a 200-day moving average price of $568.96. The firm has a market cap of $81.91 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (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, equities analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson's dividend payout ratio (DPR) is currently 13.00%.

McKesson Company 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.

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