Roxbury Financial LLC Acquires New Holdings in McKesson Co. (NYSE:MCK)

Roxbury Financial LLC bought a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,601 shares of the company's stock, valued at approximately $1,635,000. McKesson accounts for about 1.6% of Roxbury Financial LLC's investment portfolio, making the stock its 21st largest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock valued at $398,937,000 after purchasing an additional 734,849 shares during the last quarter. FMR LLC lifted its position in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company's stock valued at $1,467,557,000 after buying an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock valued at $588,048,000 after buying an additional 425,875 shares during the last quarter. Janus Henderson Group PLC boosted its stake in McKesson by 126.8% during the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock worth $283,903,000 after buying an additional 321,119 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after acquiring an additional 162,688 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,307 shares of company stock worth $6,177,790 over the last 90 days. Corporate insiders own 0.11% of the company's stock.

McKesson Stock Performance

Shares of NYSE:MCK traded up $2.99 on Wednesday, hitting $602.41. 738,215 shares of the company's stock were exchanged, compared to its average volume of 752,075. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The company has a market capitalization of $75.50 billion, a PE ratio of 27.58, a P/E/G ratio of 1.27 and a beta of 0.52. The firm's 50-day moving average is $588.11 and its 200 day moving average is $562.19.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research note on Friday, December 13th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 target price for the company. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Finally, Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $645.79.

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.