Prudential Financial Inc. Has $82.48 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Prudential Financial Inc. lifted its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 32.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 144,729 shares of the company's stock after purchasing an additional 35,132 shares during the period. Prudential Financial Inc. owned about 0.11% of McKesson worth $82,483,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Congress Wealth Management LLC DE grew its position in shares of McKesson by 6.2% in the 4th quarter. Congress Wealth Management LLC DE now owns 2,619 shares of the company's stock worth $1,493,000 after acquiring an additional 154 shares in the last quarter. Stevens Capital Management LP bought a new stake in McKesson during the fourth quarter valued at $320,000. LPL Financial LLC raised its holdings in shares of McKesson by 7.9% during the fourth quarter. LPL Financial LLC now owns 138,196 shares of the company's stock worth $78,759,000 after purchasing an additional 10,148 shares during the period. Heron Bay Capital Management lifted its position in shares of McKesson by 2.4% in the 4th quarter. Heron Bay Capital Management now owns 19,316 shares of the company's stock worth $11,008,000 after buying an additional 456 shares during the last quarter. Finally, Mosley Wealth Management boosted its holdings in shares of McKesson by 9.7% in the 4th quarter. Mosley Wealth Management now owns 711 shares of the company's stock valued at $429,000 after buying an additional 63 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were 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 owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 in the last quarter. 0.11% of the stock is owned by company insiders.

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Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MCK. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Morgan Stanley raised 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. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective on the stock. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $649.36.

McKesson Stock Up 0.4 %

McKesson stock traded up $2.58 during midday trading on Friday, hitting $668.25. The company's stock had a trading volume of 566,680 shares, compared to its average volume of 837,100. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $672.00. The stock's 50-day moving average price is $623.58 and its 200-day moving average price is $579.34. The company has a market capitalization of $83.75 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

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

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 0.42%. The ex-dividend date is Monday, March 3rd. McKesson's dividend payout ratio is 13.00%.

About McKesson

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.