McKesson Co. (NYSE:MCK) Shares Sold by Becker Capital Management Inc.

Becker Capital Management Inc. lessened its holdings in McKesson Co. (NYSE:MCK - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,740 shares of the company's stock after selling 867 shares during the period. McKesson comprises approximately 1.6% of Becker Capital Management Inc.'s holdings, making the stock its 16th biggest holding. Becker Capital Management Inc. owned about 0.07% of McKesson worth $48,355,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its stake in shares of McKesson by 8.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after purchasing an additional 222,496 shares in the last quarter. Geode Capital Management LLC lifted its position in McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after acquiring an additional 10,015 shares in the last quarter. Franklin Resources Inc. boosted its holdings in McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after acquiring an additional 114,396 shares during the period. Norges Bank acquired a new stake in McKesson in the fourth quarter valued at approximately $1,200,361,000. Finally, Northern Trust Corp raised its stake in shares of McKesson by 9.0% during the fourth quarter. Northern Trust Corp now owns 1,532,203 shares of the company's stock valued at $873,218,000 after purchasing an additional 126,940 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group raised their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday. Bank of America raised their target price on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Wells Fargo & Company upped 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. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $681.00.

McKesson Stock Performance

Shares of McKesson stock traded up $0.51 during trading hours on Friday, reaching $707.28. The company's stock had a trading volume of 866,297 shares, compared to its average volume of 889,989. McKesson Co. has a one year low of $464.42 and a one year high of $728.32. The company's 50 day simple moving average is $671.24 and its 200 day simple moving average is $613.31. The stock has a market cap of $88.64 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, sell-side analysts predict 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. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is 13.00%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on 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 in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were 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 $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,110 shares of company stock worth $10,855,706. Insiders own 0.11% of the company's stock.

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.