American Century Companies Inc. Sells 10,136 Shares of McKesson Co. (NYSE:MCK)

American Century Companies Inc. decreased its stake in McKesson Co. (NYSE:MCK - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,642 shares of the company's stock after selling 10,136 shares during the period. American Century Companies Inc.'s holdings in McKesson were worth $29,431,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC raised its holdings in McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock valued at $283,903,000 after buying an additional 321,119 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in McKesson in the 4th quarter valued at approximately $178,397,000. Raymond James Financial Inc. bought a new position in shares of McKesson during the fourth quarter valued at $128,125,000. Boston Partners lifted its holdings in shares of McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company's stock worth $625,501,000 after purchasing an additional 216,432 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock worth $558,606,000 after purchasing an additional 162,688 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on MCK shares. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Wells Fargo & Company lifted their price objective on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Morgan Stanley upped their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday. Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. Finally, Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $656.71.

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McKesson Stock Performance

McKesson stock traded up $17.82 during mid-day trading on Wednesday, reaching $691.51. The stock had a trading volume of 316,369 shares, compared to its average volume of 836,499. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $691.51. The stock's 50-day simple moving average is $626.97 and its 200-day simple moving average is $582.06. The firm has a market capitalization of $86.66 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. McKesson's dividend payout ratio is presently 13.00%.

Insider Activity at McKesson

In related 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 value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by corporate insiders.

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.