Woodline Partners LP Purchases New Stake in McKesson Co. (NYSE:MCK)

Woodline Partners LP bought a new stake in shares of McKesson Co. (NYSE:MCK - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,318 shares of the company's stock, valued at approximately $1,891,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Frank Rimerman Advisors LLC increased its position in McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after buying an additional 17 shares in the last quarter. Hemington Wealth Management increased its position in McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after buying an additional 18 shares in the last quarter. First Western Trust Bank increased its position in McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock valued at $531,000 after buying an additional 18 shares in the last quarter. Calamos Wealth Management LLC increased its position in McKesson by 0.4% during the 4th 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 in the last quarter. Finally, Quent Capital LLC increased its position in McKesson by 1.7% during the 4th quarter. Quent Capital LLC now owns 1,178 shares of the company's stock valued at $671,000 after buying an additional 20 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 510 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $366,134.10. Following the completion of the transaction, the executive vice president now owns 5,435 shares of the company's stock, valued at $3,901,840.85. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 341 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the transaction, the executive vice president now directly owns 2,800 shares of the company's stock, valued at $2,010,148. The trade was a 10.86% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,856 shares of company stock valued at $7,793,675. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MCK. Mizuho upped 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. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 21st. Bank of America boosted their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, UBS Group boosted their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Three 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 stock. According to MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $686.69.

McKesson Stock Up 0.9%

Shares of MCK traded up $6.24 during mid-day trading on Friday, reaching $719.10. The company had a trading volume of 110,718 shares, compared to its average volume of 911,714. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $731.00. The stock has a market capitalization of $89.97 billion, a P/E ratio of 32.93, a PEG ratio of 1.29 and a beta of 0.53. The stock has a 50 day moving average of $694.04 and a two-hundred day moving average of $636.97.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion during 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%. McKesson's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior 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 year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. McKesson's payout ratio is 10.99%.

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.