McKesson Co. (NYSE:MCK) Stock Position Increased by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC increased its stake in McKesson Co. (NYSE:MCK - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,106 shares of the company's stock after buying an additional 747 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in McKesson were worth $8,040,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Frank Rimerman Advisors LLC grew its stake in shares of McKesson by 2.2% in 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 in the last quarter. Old North State Trust LLC grew its stake in shares of McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after buying an additional 18 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of McKesson by 4.8% in 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 in the last quarter. Hemington Wealth Management grew its stake in shares of McKesson by 18.6% in 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 in the last quarter. Finally, First Western Trust Bank grew its stake in shares of McKesson by 2.0% in 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 in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Price Performance

Shares of NYSE MCK traded up $6.19 during mid-day trading on Friday, hitting $694.62. The company had a trading volume of 731,510 shares, compared to its average volume of 893,071. The stock has a market cap of $87.05 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32. The firm's 50 day simple moving average is $661.28 and its two-hundred day simple moving average is $607.86.

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

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 dividend payout ratio (DPR) is 13.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Mizuho raised their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Morgan Stanley raised their price objective on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Bank of America raised their price objective on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $668.50.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 in the company, valued at $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 valued at $10,855,706 in the last quarter. Corporate 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.