Price T Rowe Associates Inc. MD Has $673.91 Million Stock Position in McKesson Co. (NYSE:MCK)

Price T Rowe Associates Inc. MD trimmed its position in McKesson Co. (NYSE:MCK - Free Report) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,182,478 shares of the company's stock after selling 166,285 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.93% of McKesson worth $673,907,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Te Ahumairangi Investment Management Ltd grew its position in McKesson by 19.2% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 11,729 shares of the company's stock worth $5,766,000 after purchasing an additional 1,890 shares during the last quarter. World Investment Advisors LLC bought a new stake in McKesson in the 3rd quarter valued at $2,229,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of McKesson by 817.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 5,622 shares of the company's stock worth $2,780,000 after acquiring an additional 5,009 shares during the period. Tidal Investments LLC raised its position in McKesson by 453.8% in the third quarter. Tidal Investments LLC now owns 52,992 shares of the company's stock worth $26,200,000 after purchasing an additional 43,424 shares in the last quarter. Finally, Castellan Group lifted its stake in McKesson by 4.0% during the third quarter. Castellan Group now owns 10,200 shares of the company's stock worth $5,043,000 after purchasing an additional 391 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 over the last ninety days. Company insiders own 0.11% of the company's stock.

McKesson Price Performance

Shares of NYSE MCK traded up $6.19 during midday trading on Friday, reaching $694.62. 731,510 shares of the stock were exchanged, compared to its average volume of 893,071. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32. The business has a 50-day simple moving average of $661.28 and a two-hundred day simple moving average of $607.86. The company has a market capitalization of $87.05 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio is 13.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MCK shares. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Evercore ISI upped their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Citigroup dropped their target price on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Wells Fargo & Company increased their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Finally, Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Three research 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 company's stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average target price of $668.50.

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.