Voloridge Investment Management LLC Grows Stake in McKesson Co. (NYSE:MCK)

Voloridge Investment Management LLC raised its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 430,558 shares of the company's stock after purchasing an additional 59,417 shares during the period. McKesson makes up approximately 0.9% of Voloridge Investment Management LLC's holdings, making the stock its 4th largest holding. Voloridge Investment Management LLC owned approximately 0.34% of McKesson worth $245,379,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Frank Rimerman Advisors LLC grew its stake in shares of McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after buying an additional 17 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after buying an additional 18 shares during the last quarter. Hemington Wealth Management grew its stake in shares of McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after buying an additional 18 shares during the last quarter. First Western Trust Bank grew its stake in shares of McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock valued at $531,000 after buying an additional 18 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its stake in shares of McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock valued at $2,665,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 1,248 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the completion of the transaction, the executive vice president now directly owns 2,621 shares in the company, valued at $1,880,043.30. This trade represents a 32.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Britt J. Vitalone sold 6,336 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $4,544,812.80. Following the transaction, the chief financial officer now owns 14,760 shares of the company's stock, valued at $10,587,348. The trade was a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,127 shares of company stock valued at $5,834,498 in the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

McKesson Trading Up 0.7%

McKesson stock traded up $4.80 during trading hours on Friday, hitting $715.44. 815,972 shares of the stock traded hands, compared to its average volume of 918,692. The firm's 50-day moving average price is $689.88 and its two-hundred day moving average price is $634.29. The company has a market cap of $89.51 billion, a PE ratio of 32.76, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a one year low of $464.42 and a one year high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $90.82 billion for 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%. The business's revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm posted $6.18 EPS. On average, sell-side analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given 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 0.40%. McKesson's payout ratio is 10.99%.

Analysts Set New Price Targets

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

McKesson 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.