Global Retirement Partners LLC Boosts Stock Position in McKesson Co. (NYSE:MCK)

Global Retirement Partners LLC lifted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 52.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,653 shares of the company's stock after purchasing an additional 1,610 shares during the quarter. Global Retirement Partners LLC's holdings in McKesson were worth $2,652,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MCK. Massachusetts Financial Services Co. MA boosted its stake in McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock valued at $2,444,175,000 after buying an additional 138,685 shares in the last quarter. FMR LLC lifted its position in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after purchasing an additional 438,423 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company's stock worth $1,306,873,000 after purchasing an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock worth $588,048,000 after buying an additional 425,875 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after acquiring an additional 162,688 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company's stock, valued at $41,820,952.50. The trade was 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 188 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were 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 directly owns 1,051 shares in the company, valued at $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 10,307 shares of company stock worth $6,177,790 in the last 90 days. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MCK shares. Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and upped their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Wells Fargo & Company raised 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. Finally, StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $645.79.

McKesson Trading Down 0.9 %

Shares of MCK traded down $5.39 during mid-day trading on Friday, reaching $598.12. The company's stock had a trading volume of 328,478 shares, compared to its average volume of 734,970. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The stock has a market cap of $74.96 billion, a P/E ratio of 27.39, a PEG ratio of 1.29 and a beta of 0.52. The business has a 50-day simple moving average of $588.60 and a two-hundred day simple moving average of $562.48.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly 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 negative return on equity of 181.26% and a net margin of 0.82%. Research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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