McKesson Co. (NYSE:MCK) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. lowered its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 1.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 34,146 shares of the company's stock after selling 563 shares during the period. Baird Financial Group Inc.'s holdings in McKesson were worth $19,460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Bayesian Capital Management LP purchased a new position in McKesson in the fourth quarter worth approximately $307,000. Beverly Hills Private Wealth LLC increased its holdings in McKesson by 8.1% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 2,651 shares of the company's stock valued at $1,511,000 after buying an additional 199 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of McKesson by 1.2% during the 4th quarter. Benjamin Edwards Inc. now owns 5,989 shares of the company's stock worth $3,418,000 after acquiring an additional 72 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of McKesson by 10.7% in the 4th quarter. Ameriprise Financial Inc. now owns 346,827 shares of the company's stock valued at $197,685,000 after acquiring an additional 33,622 shares during the last quarter. Finally, Alpha Family Trust purchased a new stake in McKesson during the fourth quarter worth approximately $214,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm's 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 transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the company's 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 directly owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. 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 in the last three months. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MCK shares. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. UBS Group raised their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company increased their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $686.69.

McKesson Price Performance

MCK traded up $3.87 during trading on Friday, hitting $694.12. The company's stock had a trading volume of 2,028,420 shares, compared to its average volume of 898,192. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.48. The stock has a market cap of $86.99 billion, a PE ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.53. The firm's 50 day moving average price is $678.24 and its 200-day moving average price is $620.09.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same period in the prior year, the business posted $6.18 earnings per share. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. Equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson's dividend payout ratio is presently 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.