Two Sigma Advisers LP Grows Position in McKesson Co. (NYSE:MCK)

Two Sigma Advisers LP raised its holdings in McKesson Co. (NYSE:MCK - Free Report) by 461.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 128,000 shares of the company's stock after acquiring an additional 105,200 shares during the period. Two Sigma Advisers LP owned approximately 0.10% of McKesson worth $72,948,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Investments LP increased its position in McKesson by 548.3% during the fourth quarter. Two Sigma Investments LP now owns 164,741 shares of the company's stock worth $93,888,000 after purchasing an additional 139,328 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of McKesson by 900.0% during the 4th quarter. True Wealth Design LLC now owns 170 shares of the company's stock worth $97,000 after buying an additional 153 shares during the last quarter. State of Wyoming acquired a new stake in shares of McKesson during the 4th quarter worth approximately $268,000. Strategic Wealth Partners Ltd. raised its position in shares of McKesson by 42.7% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 942 shares of the company's stock valued at $568,000 after buying an additional 282 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in McKesson by 23.5% in the fourth quarter. Toronto Dominion Bank now owns 55,311 shares of the company's stock valued at $31,522,000 after acquiring an additional 10,532 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. UBS Group raised their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. StockNews.com raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Morgan Stanley lifted their price target on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Finally, Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average target price of $686.69.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.11% of the company's stock.

McKesson Stock Up 0.3%

McKesson stock opened at $726.05 on Tuesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.48. The firm has a market cap of $90.84 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The company's 50 day moving average is $684.84 and its two-hundred day moving average is $629.90.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. During the same period last year, the firm earned $6.18 earnings per share. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed 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 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.