Canada Pension Plan Investment Board Buys 7,068 Shares of McKesson Co. (NYSE:MCK)

Canada Pension Plan Investment Board boosted its position in McKesson Co. (NYSE:MCK - Free Report) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,061 shares of the company's stock after acquiring an additional 7,068 shares during the quarter. Canada Pension Plan Investment Board owned 0.05% of McKesson worth $37,079,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Te Ahumairangi Investment Management Ltd boosted its stake in shares of McKesson by 19.2% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 11,729 shares of the company's stock valued at $5,766,000 after purchasing an additional 1,890 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of McKesson during the third quarter worth $2,229,000. Wilmington Savings Fund Society FSB increased its holdings in shares of McKesson by 817.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 5,622 shares of the company's stock worth $2,780,000 after buying an additional 5,009 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of McKesson by 453.8% in the 3rd quarter. Tidal Investments LLC now owns 52,992 shares of the company's stock valued at $26,200,000 after acquiring an additional 43,424 shares during the last quarter. Finally, Castellan Group boosted its holdings in shares of McKesson by 4.0% during the 3rd quarter. Castellan Group now owns 10,200 shares of the company's stock valued at $5,043,000 after acquiring an additional 391 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCK has been the subject of several research reports. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Wells Fargo & Company lifted their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Bank of America raised their price target on shares of McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research note on Friday, April 11th. 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 note on Thursday, February 6th. Finally, Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus target price of $668.50.

McKesson Stock Performance

Shares of McKesson stock traded down $1.45 on Thursday, reaching $690.82. 288,824 shares of the company's stock were exchanged, compared to its average volume of 921,375. The company has a market capitalization of $86.58 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The firm's 50-day moving average is $657.47 and its two-hundred day moving average is $603.65.

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

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson's dividend payout ratio (DPR) is currently 13.00%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on Friday, February 14th. The shares were 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 approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,110 shares of company stock worth $10,855,706. Corporate insiders own 0.11% of the company's stock.

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.