Northwest & Ethical Investments L.P. Purchases 2,093 Shares of McKesson Co. (NYSE:MCK)

Northwest & Ethical Investments L.P. increased its position in McKesson Co. (NYSE:MCK - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,213 shares of the company's stock after purchasing an additional 2,093 shares during the period. Northwest & Ethical Investments L.P.'s holdings in McKesson were worth $22,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MCK. Thrivent Financial for Lutherans lifted its holdings in shares of McKesson by 5.8% during the third quarter. Thrivent Financial for Lutherans now owns 20,142 shares of the company's stock valued at $9,964,000 after purchasing an additional 1,106 shares during the last quarter. Aviance Capital Partners LLC lifted its position in McKesson by 31.6% in the 3rd quarter. Aviance Capital Partners LLC now owns 820 shares of the company's stock valued at $405,000 after acquiring an additional 197 shares in the last quarter. Prospera Financial Services Inc boosted its stake in McKesson by 5.5% during the 3rd quarter. Prospera Financial Services Inc now owns 2,559 shares of the company's stock valued at $1,267,000 after purchasing an additional 133 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of McKesson by 5.2% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 722 shares of the company's stock worth $357,000 after purchasing an additional 36 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of McKesson in the third quarter worth $2,148,000. Institutional investors own 85.07% of the company's stock.

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Analysts Set New Price Targets

Several research firms recently commented on MCK. Morgan Stanley increased their price objective on McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target for the company. Citigroup lowered their price objective 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. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Finally, Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $649.36.

McKesson Price Performance

Shares of NYSE MCK traded up $0.39 during mid-day trading on Monday, reaching $661.56. The company's stock had a trading volume of 775,431 shares, compared to its average volume of 800,762. The stock has a fifty day moving average of $617.68 and a two-hundred day moving average of $575.39. The firm has a market capitalization of $82.91 billion, a PE ratio of 30.29, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $673.23.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data 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%. Analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock worth $11,187,351 over the last 90 days. Corporate insiders own 0.11% of the company's stock.

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.