McKesson Co. (NYSE:MCK) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC raised its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 168.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 235,226 shares of the company's stock after buying an additional 147,600 shares during the period. Renaissance Technologies LLC owned about 0.19% of McKesson worth $134,058,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cibc World Market Inc. grew its position in McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock valued at $11,542,000 after buying an additional 1,207 shares during the period. West Oak Capital LLC grew its position in shares of McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock valued at $1,710,000 after acquiring an additional 2,690 shares during the period. Brentview Investment Management LLC purchased a new position in shares of McKesson in the 4th quarter valued at about $3,018,000. Ingalls & Snyder LLC boosted its position in McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after purchasing an additional 162,688 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Down 0.1 %

NYSE:MCK traded down $0.57 on Monday, hitting $688.79. The stock had a trading volume of 289,870 shares, compared to its average volume of 922,956. The company has a fifty day moving average price of $642.70 and a two-hundred day moving average price of $593.86. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.32. The stock has a market cap of $86.32 billion, a price-to-earnings ratio of 31.54, a PEG ratio of 1.29 and a beta of 0.49.

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McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 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%. As a group, analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCK. Bank of America increased their target price on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research report on Friday. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $668.50.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson 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 completion of the transaction, the executive vice president now owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,110 shares of company stock valued at $10,855,706. Company 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.