Voloridge Investment Management LLC Has $245.38 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Voloridge Investment Management LLC raised its stake in McKesson Co. (NYSE:MCK - Free Report) by 16.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 430,558 shares of the company's stock after purchasing an additional 59,417 shares during the period. McKesson accounts for approximately 0.9% of Voloridge Investment Management LLC's holdings, making the stock its 4th biggest holding. Voloridge Investment Management LLC owned 0.34% of McKesson worth $245,379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MCK. Trust Co. of Vermont increased its position in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after purchasing an additional 18 shares during the last quarter. Ameritas Advisory Services LLC grew its position in shares of McKesson by 44.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 1,778 shares of the company's stock valued at $1,014,000 after buying an additional 546 shares during the last quarter. Artemis Investment Management LLP grew its position in shares of McKesson by 14.1% during the 4th quarter. Artemis Investment Management LLP now owns 19,239 shares of the company's stock valued at $10,964,000 after buying an additional 2,374 shares during the last quarter. Grove Bank & Trust grew its position in shares of McKesson by 6.6% during the 4th quarter. Grove Bank & Trust now owns 453 shares of the company's stock valued at $258,000 after buying an additional 28 shares during the last quarter. Finally, Successful Portfolios LLC bought a new stake in shares of McKesson during the 4th quarter valued at about $219,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Up 0.3%

Shares of MCK stock opened at $726.05 on Tuesday. The stock has a 50-day simple moving average of $684.84 and a 200 day simple moving average of $629.90. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.48. The stock has a market capitalization of $90.84 billion, a P/E ratio of 33.24, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last announced 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. 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 during the quarter, compared to analysts' expectations of $94 billion. During the same quarter last year, the business posted $6.18 earnings per share. The company's quarterly revenue was up 18.9% on a year-over-year basis. On average, sell-side analysts anticipate 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. Investors of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio is currently 10.99%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm's 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 completion of the transaction, the chief executive officer now owns 60,664 shares of the company's stock, valued at $36,276,465.36. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.11% of the company's stock.

Analyst Ratings Changes

MCK has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Bank of America increased their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $686.69.

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.

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