Toronto Dominion Bank Buys 10,532 Shares of McKesson Co. (NYSE:MCK)

Toronto Dominion Bank grew its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 23.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,311 shares of the company's stock after purchasing an additional 10,532 shares during the quarter. Toronto Dominion Bank's holdings in McKesson were worth $31,522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Merit Financial Group LLC lifted its holdings in shares of McKesson by 127.1% in the fourth quarter. Merit Financial Group LLC now owns 10,060 shares of the company's stock worth $5,734,000 after buying an additional 5,630 shares in the last quarter. Trust Co. of Vermont increased its holdings in McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after acquiring an additional 18 shares during the period. HB Wealth Management LLC increased its holdings in McKesson by 10.4% during the 4th quarter. HB Wealth Management LLC now owns 7,538 shares of the company's stock worth $4,296,000 after acquiring an additional 709 shares during the period. Ameritas Advisory Services LLC lifted its stake in McKesson by 44.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 1,778 shares of the company's stock worth $1,014,000 after purchasing an additional 546 shares in the last quarter. Finally, TruWealth Advisors LLC boosted its holdings in McKesson by 9.2% in the 4th quarter. TruWealth Advisors LLC now owns 1,073 shares of the company's stock valued at $612,000 after purchasing an additional 90 shares during the period. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCK. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company upped their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Finally, Bank of America lifted their target price on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $686.69.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This represents a 12.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

McKesson Price Performance

NYSE MCK traded down $8.43 during trading on Thursday, hitting $710.30. 599,391 shares of the company's stock traded hands, compared to its average volume of 915,896. The stock has a fifty day moving average of $687.71 and a two-hundred day moving average of $631.12. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.70. The firm has a market cap of $88.87 billion, a P/E ratio of 32.52, a PEG ratio of 1.29 and a beta of 0.53.

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, beating the consensus estimate of $9.83 by $0.29. The company 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 quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business posted $6.18 EPS. As a group, analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

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.