BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stake in McKesson Co. (NYSE:MCK)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,832 shares of the company's stock after purchasing an additional 3,186 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in McKesson were worth $14,152,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC lifted its stake in McKesson by 44.3% in the fourth quarter. Ameritas Advisory Services LLC now owns 1,778 shares of the company's stock valued at $1,014,000 after buying an additional 546 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of McKesson by 3.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 632 shares of the company's stock valued at $360,000 after acquiring an additional 22 shares during the period. Koshinski Asset Management Inc. raised its position in McKesson by 0.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 2,404 shares of the company's stock valued at $1,370,000 after purchasing an additional 22 shares during the last quarter. Pure Financial Advisors LLC boosted its stake in McKesson by 3.3% during the 4th quarter. Pure Financial Advisors LLC now owns 792 shares of the company's stock worth $452,000 after purchasing an additional 25 shares during the period. Finally, Aspiriant LLC purchased a new position in McKesson during the 4th quarter worth $235,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of McKesson stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the sale, the executive vice president now directly owns 2,621 shares of the company's stock, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 6,336 shares of McKesson stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the sale, the chief financial officer now directly owns 14,760 shares of the company's stock, valued at approximately $10,587,348. This represents a 30.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,127 shares of company stock valued at $5,834,498. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MCK. Morgan Stanley upped their target price on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. UBS Group increased their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company boosted their target price on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Bank of America upped their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $686.69.

McKesson Stock Performance

MCK traded up $0.66 on Tuesday, hitting $716.75. 245,600 shares of the company were exchanged, compared to its average volume of 916,041. The business's fifty day moving average is $690.91 and its 200 day moving average is $635.19. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00. The firm has a market capitalization of $89.67 billion, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.40%. McKesson's dividend payout ratio (DPR) is 10.99%.

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.