Gladstone Institutional Advisory LLC Has $848,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Gladstone Institutional Advisory LLC raised its position in McKesson Co. (NYSE:MCK - Free Report) by 63.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,488 shares of the company's stock after buying an additional 579 shares during the period. Gladstone Institutional Advisory LLC's holdings in McKesson were worth $848,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MCK. Cibc World Market Inc. grew its holdings in McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after acquiring an additional 1,207 shares in the last quarter. Commerce Bank lifted its position in shares of McKesson by 2.0% during the third quarter. Commerce Bank now owns 156,781 shares of the company's stock worth $77,516,000 after purchasing an additional 3,020 shares during the last quarter. West Oak Capital LLC grew its stake in McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock worth $1,710,000 after purchasing an additional 2,690 shares in the last quarter. Brentview Investment Management LLC bought a new stake in McKesson in the fourth quarter valued at about $3,018,000. Finally, Nordea Investment Management AB raised 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 buying an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MCK shares. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $645.79.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 1,346 shares of company stock valued at $795,275. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Performance

Shares of NYSE:MCK traded down $8.65 on Monday, hitting $593.82. The company's stock had a trading volume of 499,287 shares, compared to its average volume of 765,241. The company has a market capitalization of $75.38 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The stock's 50-day moving average is $587.26 and its two-hundred day moving average is $562.38. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data 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 net margin of 0.82% and a negative return on equity of 181.26%. Equities analysts expect that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio is presently 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.