Rathbones Group PLC Buys New Shares in McKesson Co. (NYSE:MCK)

Rathbones Group PLC bought a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 27,864 shares of the company's stock, valued at approximately $15,880,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC raised its stake in McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after acquiring an additional 17 shares during the last quarter. Old North State Trust LLC increased its holdings in shares of McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after purchasing an additional 18 shares during the period. Trust Co. of Vermont raised its stake in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after purchasing an additional 18 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after purchasing an additional 18 shares during the period. Finally, First Western Trust Bank grew its position in McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock valued at $531,000 after buying an additional 18 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Mizuho upped their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Wells Fargo & Company increased their target price on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Finally, Morgan Stanley lifted their price target on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average price target of $668.50.

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McKesson Trading Up 1.6 %

Shares of NYSE:MCK traded up $11.10 during midday trading on Friday, hitting $690.43. 841,601 shares of the stock were exchanged, compared to its average volume of 881,074. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The company has a 50 day moving average price of $642.70 and a 200-day moving average price of $593.86. The stock has a market cap of $86.53 billion, a P/E ratio of 31.61, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last announced its 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,110 shares of company stock valued at $10,855,706. Corporate insiders own 0.11% of the company's stock.

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.