OLD National Bancorp IN Has $4.67 Million Position in McKesson Co. (NYSE:MCK)

OLD National Bancorp IN raised its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,196 shares of the company's stock after purchasing an additional 556 shares during the period. OLD National Bancorp IN's holdings in McKesson were worth $4,671,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MCK. International Assets Investment Management LLC raised its holdings in shares of McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock valued at $398,937,000 after purchasing an additional 734,849 shares in the last quarter. FMR LLC raised its holdings in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company's stock valued at $1,467,557,000 after buying an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of McKesson by 55.8% in 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. Janus Henderson Group PLC boosted its stake in shares of McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock worth $283,903,000 after acquiring an additional 321,119 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of McKesson by 20.0% in 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 in the last quarter. Institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on MCK. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. Evercore ISI raised their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research note on Friday, December 13th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus target price of $646.14.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Down 1.6 %

MCK stock traded down $9.75 during midday trading on Friday, reaching $594.85. 806,935 shares of the company's stock traded hands, compared to its average volume of 661,867. The company has a market cap of $75.51 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 1.30 and a beta of 0.52. The company has a 50-day simple moving average of $591.35 and a two-hundred day simple moving average of $562.12. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. During the same quarter in the prior year, the company earned $6.23 EPS. The firm's quarterly revenue was up 21.3% on a year-over-year basis. Equities research analysts forecast that McKesson Co. will post 32.72 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced 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 0.48%. McKesson's dividend payout ratio (DPR) is currently 14.71%.

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.