Vanguard Group Inc. Has $6.77 Billion Stake in McKesson Co. (NYSE:MCK)

Vanguard Group Inc. lessened its position in McKesson Co. (NYSE:MCK - Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,886,856 shares of the company's stock after selling 162,595 shares during the quarter. Vanguard Group Inc. owned about 9.36% of McKesson worth $6,774,438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Stevens Capital Management LP bought a new position in shares of McKesson in the fourth quarter worth about $320,000. LPL Financial LLC increased its position in McKesson by 7.9% in the 4th quarter. LPL Financial LLC now owns 138,196 shares of the company's stock worth $78,759,000 after buying an additional 10,148 shares during the period. Heron Bay Capital Management lifted its holdings in shares of McKesson by 2.4% during the fourth quarter. Heron Bay Capital Management now owns 19,316 shares of the company's stock worth $11,008,000 after buying an additional 456 shares during the last quarter. Mosley Wealth Management boosted its position in shares of McKesson by 9.7% in the fourth quarter. Mosley Wealth Management now owns 711 shares of the company's stock valued at $429,000 after acquiring an additional 63 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of McKesson in the fourth quarter worth $32,468,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred 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 transaction, the executive vice president now owns 1,051 shares of the company's stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 in the last 90 days. Corporate insiders own 0.11% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MCK. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Morgan Stanley increased their target price on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $649.36.

McKesson Price Performance

Shares of MCK stock traded up $2.71 on Thursday, reaching $665.73. 172,659 shares of the stock were exchanged, compared to its average volume of 799,736. The stock has a 50 day moving average price of $620.63 and a 200 day moving average price of $577.10. The stock has a market cap of $83.43 billion, a PE ratio of 30.54, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $671.58.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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, research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

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.