Kayne Anderson Rudnick Investment Management LLC Increases Position in McKesson Co. (NYSE:MCK)

Kayne Anderson Rudnick Investment Management LLC lifted its position in McKesson Co. (NYSE:MCK - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,106 shares of the company's stock after buying an additional 747 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in McKesson were worth $8,040,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Te Ahumairangi Investment Management Ltd lifted its holdings in shares of McKesson by 19.2% during 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 during the last quarter. World Investment Advisors LLC acquired a new position in McKesson during the 3rd quarter valued at about $2,229,000. Wilmington Savings Fund Society FSB increased its position in McKesson by 817.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 5,622 shares of the company's stock valued at $2,780,000 after buying an additional 5,009 shares in the last quarter. Tidal Investments LLC raised its stake in McKesson by 453.8% in the third quarter. Tidal Investments LLC now owns 52,992 shares of the company's stock valued at $26,200,000 after buying an additional 43,424 shares during the last quarter. Finally, Castellan Group boosted its holdings in McKesson by 4.0% in the third quarter. Castellan Group now owns 10,200 shares of the company's stock worth $5,043,000 after acquiring an additional 391 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Mizuho increased their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Morgan Stanley raised their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Bank of America boosted their price target on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $668.50.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 over the last quarter. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

Shares of NYSE:MCK traded up $6.19 during trading on Friday, reaching $694.62. The stock had a trading volume of 731,510 shares, compared to its average volume of 891,095. The business has a fifty day moving average price of $659.36 and a 200-day moving average price of $605.06. The stock has a market cap of $87.05 billion, a PE ratio of 31.80, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.32.

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

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders 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 annualized dividend and a yield of 0.41%. McKesson's payout ratio is 13.00%.

McKesson Company 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.