BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $14.15 Million Stake in McKesson Co. (NYSE:MCK)

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

Other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of McKesson by 9.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,103,050 shares of the company's stock valued at $628,639,000 after acquiring an additional 95,806 shares during the period. Voloridge Investment Management LLC boosted its holdings in shares of McKesson by 16.0% during the fourth quarter. Voloridge Investment Management LLC now owns 430,558 shares of the company's stock valued at $245,379,000 after acquiring an additional 59,417 shares during the period. Waverly Advisors LLC boosted its holdings in shares of McKesson by 17.9% during the fourth quarter. Waverly Advisors LLC now owns 2,275 shares of the company's stock valued at $1,297,000 after acquiring an additional 345 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in shares of McKesson during the fourth quarter valued at $86,209,000. Finally, Woodline Partners LP acquired a new position in shares of McKesson during the fourth quarter valued at $1,891,000. Institutional investors own 85.07% of the company's stock.

McKesson Trading Up 0.7%

MCK stock traded up $4.80 during trading on Friday, hitting $715.44. The company had a trading volume of 815,972 shares, compared to its average volume of 918,692. The firm has a market capitalization of $89.51 billion, a price-to-earnings ratio of 32.76, a P/E/G ratio of 1.29 and a beta of 0.53. The business has a 50 day moving average of $689.88 and a 200 day moving average of $633.70. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00.

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

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is 10.99%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction 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. This represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Britt J. Vitalone sold 6,336 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the sale, the chief financial officer now directly owns 14,760 shares of the company's stock, valued at $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,127 shares of company stock valued at $5,834,498. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MCK. Mizuho boosted their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday. UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $686.69.

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.