McKesson Co. (NYSE:MCK) Stake Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in McKesson Co. (NYSE:MCK - Free Report) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,124 shares of the company's stock after buying an additional 402 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in McKesson were worth $32,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MCK. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson in the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter valued at about $31,000. Synergy Asset Management LLC purchased a new position in McKesson in the fourth quarter valued at about $32,000. Crews Bank & Trust purchased a new position in McKesson in the fourth quarter valued at about $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson in the fourth quarter valued at about $44,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK traded down $12.24 during mid-day trading on Wednesday, reaching $640.95. 336,421 shares of the company's stock traded hands, compared to its average volume of 811,125. The business's 50-day moving average price is $604.12 and its 200-day moving average price is $568.96. The stock has a market capitalization of $80.33 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $663.61.

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

McKesson Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson's payout ratio is 13.00%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred 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 transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 over the last quarter. Corporate insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective on the stock. Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $645.79.

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.