Leigh Baldwin & CO. LLC Acquires Shares of 563 McKesson Co. (NYSE:MCK)

Leigh Baldwin & CO. LLC bought a new stake in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 563 shares of the company's stock, valued at approximately $321,000.

Several other institutional investors have also recently bought and sold shares of MCK. T. Rowe Price Investment Management Inc. increased its position in McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after purchasing an additional 222,496 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after buying an additional 10,015 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after acquiring an additional 114,396 shares during the last quarter. Norges Bank acquired a new stake in shares of McKesson during the 4th quarter valued at $1,200,361,000. Finally, Northern Trust Corp increased its holdings in McKesson by 9.0% in the 4th quarter. Northern Trust Corp now owns 1,532,203 shares of the company's stock worth $873,218,000 after purchasing an additional 126,940 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Trading Down 1.2%

MCK stock traded down $8.77 during trading on Wednesday, reaching $711.61. 638,870 shares of the stock were exchanged, compared to its average volume of 917,004. The firm's 50 day moving average is $691.98 and its 200 day moving average is $635.78. The firm has a market cap of $89.03 billion, a P/E ratio of 32.58, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.00.

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

McKesson Announces Dividend

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 issued 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 is Monday, June 2nd. McKesson's dividend payout ratio is currently 10.99%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MCK shares. Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Evercore ISI upped their price target on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wells Fargo & Company boosted their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Finally, Bank of America raised their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $686.69.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Britt J. Vitalone sold 6,336 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the sale, the chief financial officer now owns 14,760 shares of the company's stock, valued at $10,587,348. This trade represents a 30.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,127 shares of company stock valued at $5,834,498 over the last three months. Corporate 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.