Merit Financial Group LLC grew its stake in shares of McKesson Co. (NYSE:MCK – Get Rating) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,878 shares of the company’s stock after acquiring an additional 40 shares during the period. Merit Financial Group LLC’s holdings in McKesson were worth $1,079,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its position in shares of McKesson by 1.0% during the 2nd quarter. State Street Corp now owns 6,611,727 shares of the company’s stock valued at $2,159,803,000 after acquiring an additional 67,443 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of McKesson by 13.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,186,592 shares of the company’s stock valued at $403,287,000 after acquiring an additional 137,396 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of McKesson by 53.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock valued at $280,399,000 after acquiring an additional 320,588 shares during the period. WCM Investment Management LLC acquired a new stake in shares of McKesson during the 3rd quarter valued at approximately $302,630,000. Finally, Fred Alger Management LLC lifted its position in shares of McKesson by 11.6% during the 3rd quarter. Fred Alger Management LLC now owns 823,327 shares of the company’s stock valued at $279,824,000 after acquiring an additional 85,272 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.
McKesson Stock Performance
Shares of MCK opened at $335.83 on Friday. The stock has a fifty day moving average of $359.75 and a two-hundred day moving average of $365.78. The company has a market capitalization of $45.99 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59. McKesson Co. has a fifty-two week low of $298.69 and a fifty-two week high of $401.78.
McKesson Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 1st will be paid a dividend of $0.54 per share. The ex-dividend date is Tuesday, February 28th. This represents a $2.16 annualized dividend and a dividend yield of 0.64%. McKesson’s dividend payout ratio is presently 9.88%.
Insider Activity
In other news, EVP Nancy Avila sold 161 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $370.02, for a total transaction of $59,573.22. Following the completion of the sale, the executive vice president now directly owns 4,631 shares of the company’s stock, valued at approximately $1,713,562.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Brian S. Tyler sold 7,416 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total transaction of $2,818,080.00. Following the completion of the sale, the chief executive officer now directly owns 75,737 shares of the company’s stock, valued at approximately $28,780,060. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Avila sold 161 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $370.02, for a total transaction of $59,573.22. Following the sale, the executive vice president now directly owns 4,631 shares of the company’s stock, valued at $1,713,562.62. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. UBS Group cut their price objective on McKesson from $450.00 to $440.00 and set a “buy” rating for the company in a research report on Tuesday, January 31st. Robert W. Baird lifted their price objective on McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. Finally, StockNews.com assumed coverage on McKesson in a research report on Thursday, March 16th. They set a “strong-buy” rating for the company. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $416.30.
About McKesson
McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).
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