Jacobs Levy Equity Management Inc. Purchases 16,102 Shares of McKesson Co. (NYSE:MCK)

Jacobs Levy Equity Management Inc. boosted its holdings in McKesson Co. (NYSE:MCK - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 610,043 shares of the company's stock after purchasing an additional 16,102 shares during the quarter. McKesson makes up about 1.2% of Jacobs Levy Equity Management Inc.'s investment portfolio, making the stock its 10th largest holding. Jacobs Levy Equity Management Inc. owned about 0.48% of McKesson worth $347,670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Frank Rimerman Advisors LLC lifted its position in McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after purchasing an additional 17 shares during the last quarter. Trust Co. of Vermont lifted its holdings in McKesson by 4.8% in the fourth 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 period. Hemington Wealth Management increased its stake 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 during the period. First Western Trust Bank increased 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 acquiring an additional 18 shares during the period. Finally, Calamos Wealth Management LLC increased its position in shares of 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 purchasing an additional 20 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCK. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. UBS Group lifted their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Mizuho upped their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $686.69.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 in the last quarter. Insiders own 0.11% of the company's stock.

McKesson Trading Up 0.6 %

Shares of NYSE:MCK opened at $694.12 on Friday. The stock has a market capitalization of $86.99 billion, a PE ratio of 31.78, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.48. The firm has a fifty day moving average price of $678.24 and a 200 day moving average price of $620.91.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.18 EPS. On average, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal 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 $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson's payout ratio is presently 13.00%.

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.

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