McKesson Co. (NYSE:MCK) Holdings Boosted by Meeder Asset Management Inc.

Meeder Asset Management Inc. grew its stake in McKesson Co. (NYSE:MCK - Free Report) by 289.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,874 shares of the company's stock after purchasing an additional 11,056 shares during the quarter. Meeder Asset Management Inc.'s holdings in McKesson were worth $8,477,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Cibc World Market Inc. raised its stake in McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock valued at $11,542,000 after buying an additional 1,207 shares in the last quarter. West Oak Capital LLC raised its position in shares of McKesson by 867.7% during the 4th 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 in the last quarter. Brentview Investment Management LLC bought a new position in McKesson during the fourth quarter worth $3,018,000. Ingalls & Snyder LLC boosted 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 during the period. Finally, Nordea Investment Management AB increased its stake in McKesson by 20.0% during the fourth 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. Institutional investors own 85.07% of the company's stock.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 over the last ninety days. Insiders own 0.11% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Citigroup lowered their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Finally, Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Two 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $656.71.

McKesson Price Performance

Shares of NYSE MCK traded up $20.43 during mid-day trading on Wednesday, reaching $694.12. 1,203,109 shares of the company traded hands, compared to its average volume of 839,698. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $698.76. The firm has a market cap of $86.99 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock has a fifty day simple moving average of $626.97 and a 200-day simple moving average of $582.06.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data 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%. As a group, analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

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.