T. Rowe Price Investment Management Inc. Has $1.62 Billion Stock Position in McKesson Co. (NYSE:MCK)

T. Rowe Price Investment Management Inc. grew its position in McKesson Co. (NYSE:MCK - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,847,385 shares of the company's stock after purchasing an additional 222,496 shares during the period. McKesson comprises about 1.0% of T. Rowe Price Investment Management Inc.'s holdings, making the stock its 15th largest position. T. Rowe Price Investment Management Inc. owned approximately 2.24% of McKesson worth $1,622,754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. Norges Bank bought a new stake in McKesson in the fourth quarter worth $1,200,361,000. Marshall Wace LLP boosted its stake in shares of McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after acquiring an additional 358,322 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of McKesson during the 4th quarter valued at about $178,397,000. Alliancebernstein L.P. increased its holdings in shares of McKesson by 46.6% during the 4th quarter. Alliancebernstein L.P. now owns 855,332 shares of the company's stock valued at $487,462,000 after acquiring an additional 272,068 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of McKesson in the 4th quarter valued at approximately $128,125,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. Bank of America increased their price target on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a report on Friday, April 11th. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Morgan Stanley raised their price target on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Wells Fargo & Company raised their target price on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $668.50.

McKesson Stock Up 1.9 %

Shares of MCK opened at $695.61 on Wednesday. The company has a 50-day moving average price of $655.50 and a two-hundred day moving average price of $603.03. The stock has a market cap of $87.18 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last posted 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 negative return on equity of 181.26% and a net margin of 0.82%. Equities research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio is currently 13.00%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction 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 completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 over the last ninety days. Corporate 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.

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