McKesson Co. (NYSE:MCK) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,691 shares of the company's stock after buying an additional 1,085 shares during the quarter. Royal London Asset Management Ltd.'s holdings in McKesson were worth $35,158,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MCK. Thrivent Financial for Lutherans increased its position in McKesson by 5.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 20,142 shares of the company's stock worth $9,964,000 after purchasing an additional 1,106 shares in the last quarter. Prospera Financial Services Inc grew its holdings in shares of McKesson by 5.5% during the third quarter. Prospera Financial Services Inc now owns 2,559 shares of the company's stock worth $1,267,000 after buying an additional 133 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of McKesson by 5.2% in the third quarter. Fifth Third Wealth Advisors LLC now owns 722 shares of the company's stock valued at $357,000 after buying an additional 36 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of McKesson during the third quarter valued at approximately $2,148,000. Finally, Advisors Asset Management Inc. boosted its position in McKesson by 2.9% during the third quarter. Advisors Asset Management Inc. now owns 11,471 shares of the company's stock worth $5,671,000 after acquiring an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

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McKesson Price Performance

NYSE MCK traded up $1.85 during trading hours on Tuesday, hitting $662.71. The company had a trading volume of 710,699 shares, compared to its average volume of 800,158. The firm's 50 day moving average is $617.68 and its 200 day moving average is $575.39. The company has a market capitalization of $83.05 billion, a price-to-earnings ratio of 30.34, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $670.79.

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

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson's payout ratio is 13.00%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 in the last quarter. Company insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on MCK shares. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Morgan Stanley increased their target price on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price for the company. Two 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $649.36.

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.