Nisa Investment Advisors LLC Acquires 49,286 Shares of McKesson Co. (NYSE:MCK)

Nisa Investment Advisors LLC raised its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 104.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 96,348 shares of the company's stock after purchasing an additional 49,286 shares during the quarter. Nisa Investment Advisors LLC owned 0.08% of McKesson worth $54,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MCK. Massachusetts Financial Services Co. MA increased its holdings in McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock valued at $2,444,175,000 after buying an additional 138,685 shares during the last quarter. FMR LLC increased its stake in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after purchasing an additional 438,423 shares in the last quarter. Geode Capital Management LLC raised its holdings in McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company's stock worth $1,306,873,000 after purchasing an additional 26,299 shares during the period. Legal & General Group Plc lifted its position in McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company's stock valued at $757,862,000 after purchasing an additional 36,583 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock valued at $588,048,000 after buying an additional 425,875 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction that occurred 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 approximately $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company's stock.

McKesson Price Performance

Shares of McKesson stock traded down $1.65 during trading on Wednesday, hitting $584.44. The stock had a trading volume of 781,082 shares, compared to its average volume of 684,521. The stock has a market cap of $74.19 billion, a PE ratio of 30.27, a PEG ratio of 1.28 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The firm's fifty day simple moving average is $594.00 and its 200-day simple moving average is $561.06.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.23 earnings per share. Analysts expect that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. McKesson's payout ratio is 14.71%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Leerink Partners lowered their price target on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Finally, Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an "equal weight" rating in a report on Friday, December 13th. Two equities 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $646.14.

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.