McKesson Co. (NYSE:MCK) Stock Position Lifted by Rafferty Asset Management LLC

Rafferty Asset Management LLC increased its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 9.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,396 shares of the company's stock after purchasing an additional 1,244 shares during the quarter. Rafferty Asset Management LLC's holdings in McKesson were worth $8,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its stake in McKesson by 8.5% in 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 buying an additional 222,496 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after acquiring an additional 10,015 shares during the period. Franklin Resources Inc. boosted its position in shares of McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after acquiring an additional 114,396 shares during the last quarter. Norges Bank purchased a new stake in McKesson in the fourth quarter valued at approximately $1,200,361,000. Finally, Northern Trust Corp increased its position in McKesson by 9.0% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Trading Down 0.2%

NYSE:MCK traded down $1.24 during trading hours on Wednesday, hitting $717.95. The stock had a trading volume of 812,321 shares, compared to its average volume of 917,162. The company has a market cap of $89.82 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The business has a 50 day simple moving average of $686.37 and a two-hundred day simple moving average of $630.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results 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. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the firm posted $6.18 EPS. The firm's quarterly revenue was up 18.9% on a year-over-year basis. Research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research analyst reports. Bank of America lifted 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. Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Wells Fargo & Company lifted 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, Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Three equities 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 company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $686.69.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction 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 directly owns 1,972 shares in the company, valued at $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on 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 directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade 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 corporate insiders.

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.