Wellington Management Group LLP Increases Stock Position in McKesson Co. (NYSE:MCK)

Wellington Management Group LLP boosted its stake in McKesson Co. (NYSE:MCK - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,179 shares of the company's stock after purchasing an additional 1,413 shares during the period. Wellington Management Group LLP's holdings in McKesson were worth $5,231,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Clearbridge Investments LLC grew its position in McKesson by 13.0% during the fourth quarter. Clearbridge Investments LLC now owns 391,280 shares of the company's stock valued at $222,995,000 after buying an additional 45,024 shares during the period. Allianz SE purchased a new stake in shares of McKesson in the 4th quarter worth $177,000. Allstate Corp bought a new position in McKesson in the 4th quarter worth $2,224,000. Maridea Wealth Management LLC purchased a new position in McKesson during the fourth quarter valued at $433,000. Finally, RiverFront Investment Group LLC bought a new stake in McKesson during the fourth quarter valued at about $223,000. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

MCK has been the topic of a number of analyst reports. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Mizuho upped their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Bank of America increased their target price on McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a research report on Friday. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $668.50.

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McKesson Price Performance

Shares of NYSE MCK traded down $2.82 during mid-day trading on Tuesday, hitting $691.16. 353,935 shares of the company's stock traded hands, compared to its average volume of 880,124. The company has a market capitalization of $86.62 billion, a P/E ratio of 31.65, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.32. The company's 50-day moving average is $644.47 and its two-hundred day moving average is $595.30.

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

McKesson Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. 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 company's stock in a transaction dated 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 owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 over the last 90 days. Insiders own 0.11% of the company's stock.

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.