Captrust Financial Advisors Raises Stock Holdings in McKesson Co. (NYSE:MCK)

Captrust Financial Advisors increased its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,266 shares of the company's stock after purchasing an additional 1,736 shares during the quarter. Captrust Financial Advisors' holdings in McKesson were worth $21,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of McKesson in the fourth quarter valued at approximately $1,200,361,000. Marshall Wace LLP raised its holdings in McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after acquiring an additional 358,322 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of McKesson during the 4th quarter worth $178,397,000. Alliancebernstein L.P. boosted its holdings in shares of McKesson by 46.6% during the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company's stock worth $487,462,000 after purchasing an additional 272,068 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in shares of McKesson by 259.7% in the fourth quarter. Voya Investment Management LLC now owns 338,378 shares of the company's stock valued at $192,845,000 after purchasing an additional 244,315 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of MCK stock opened at $711.23 on Wednesday. The company's fifty day moving average price is $674.69 and its two-hundred day moving average price is $616.80. The firm has a market capitalization of $89.14 billion, a P/E ratio of 32.57, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS 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%. On average, sell-side analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd 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 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is currently 13.00%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research analyst reports. UBS Group raised their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Wells Fargo & Company upped their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Bank of America lifted their price objective on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, Morgan Stanley raised their price target on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $681.00.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,110 shares of company stock worth $10,855,706. 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.

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.