Adage Capital Partners GP L.L.C. Has $108.91 Million Stake in McKesson Co. (NYSE:MCK)

Adage Capital Partners GP L.L.C. lifted its position in McKesson Co. (NYSE:MCK - Free Report) by 287.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 191,097 shares of the company's stock after purchasing an additional 141,795 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.15% of McKesson worth $108,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Cibc World Market Inc. lifted its position in McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after buying an additional 1,207 shares during the last quarter. West Oak Capital LLC raised its stake in shares of McKesson by 867.7% during the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock valued at $1,710,000 after acquiring an additional 2,690 shares in the last quarter. Brentview Investment Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at approximately $3,018,000. Ingalls & Snyder LLC grew its stake in McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock worth $558,606,000 after purchasing an additional 162,688 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction 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 directly 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 have sold 18,110 shares of company stock worth $10,855,706 over the last 90 days. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MCK shares. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $668.50.

McKesson Price Performance

Shares of NYSE MCK traded up $1.03 on Monday, hitting $696.03. The company's stock had a trading volume of 240,370 shares, compared to its average volume of 890,552. The stock has a 50 day moving average of $661.28 and a 200-day moving average of $607.86. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.32. The company has a market capitalization of $87.23 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's payout ratio is 13.00%.

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.