McKesson Co. (NYSE:MCK) Shares Bought by Toronto Dominion Bank

Toronto Dominion Bank boosted its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,311 shares of the company's stock after buying an additional 10,532 shares during the quarter. Toronto Dominion Bank's holdings in McKesson were worth $31,522,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC increased its holdings in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of McKesson by 6.0% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 667 shares of the company's stock worth $380,000 after buying an additional 38 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of McKesson by 5.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,144 shares of the company's stock valued at $652,000 after buying an additional 61 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of McKesson by 5.4% in the 4th quarter. Flagship Harbor Advisors LLC now owns 1,459 shares of the company's stock valued at $831,000 after buying an additional 75 shares during the period. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of McKesson by 8.4% in the 4th quarter. First Citizens Bank & Trust Co. now owns 1,996 shares of the company's stock valued at $1,138,000 after buying an additional 155 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Britt J. Vitalone sold 1,878 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the transaction, the chief financial officer now directly owns 14,028 shares in the company, valued at approximately $10,070,841.48. This trade represents a 11.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 341 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the completion of the sale, the executive vice president now owns 2,800 shares of the company's stock, valued at approximately $2,010,148. This trade represents a 10.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,856 shares of company stock valued at $7,793,675. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

MCK has been the subject of several research reports. Mizuho lifted their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Morgan Stanley upped their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st. Finally, UBS Group raised their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $686.69.

McKesson Trading Up 0.0%

Shares of MCK stock traded up $0.14 on Thursday, reaching $712.27. 506,747 shares of the stock were exchanged, compared to its average volume of 915,369. The company has a market capitalization of $89.11 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 1.29 and a beta of 0.53. The business's 50 day moving average price is $693.02 and its 200 day moving average price is $636.30. 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 announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm's revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm posted $6.18 earnings per share. Equities research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced 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 dividend payout ratio (DPR) is currently 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.