McKesson Co. (NYSE:MCK) Position Boosted by Ethic Inc.

Ethic Inc. boosted its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 43.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,042 shares of the company's stock after buying an additional 1,516 shares during the period. Ethic Inc.'s holdings in McKesson were worth $2,874,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Farallon Capital Management LLC acquired a new stake in McKesson during the 4th quarter valued at $348,044,000. Fred Alger Management LLC raised its stake in McKesson by 95.5% in the fourth quarter. Fred Alger Management LLC now owns 3,091 shares of the company's stock valued at $1,762,000 after purchasing an additional 1,510 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in McKesson by 1.3% in the fourth quarter. Clark Capital Management Group Inc. now owns 117,035 shares of the company's stock valued at $66,700,000 after purchasing an additional 1,481 shares in the last quarter. Deutsche Bank AG raised its stake in McKesson by 64.0% in the fourth quarter. Deutsche Bank AG now owns 751,283 shares of the company's stock valued at $428,164,000 after purchasing an additional 293,148 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in McKesson by 212.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 42,339 shares of the company's stock valued at $24,129,000 after purchasing an additional 28,777 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America upped their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. StockNews.com raised McKesson from a "buy" rating to a "strong-buy" rating in a report on Tuesday. UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $686.69.

McKesson Stock Performance

NYSE MCK traded up $23.50 on Thursday, reaching $705.78. 1,010,425 shares of the company's stock traded hands, compared to its average volume of 912,604. The firm has a market cap of $88.45 billion, a price-to-earnings ratio of 32.32, a P/E/G ratio of 1.29 and a beta of 0.53. The stock has a 50 day moving average price of $680.82 and a 200-day moving average price of $623.83. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.48.

McKesson (NYSE:MCK - Get Free Report) last posted 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 firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. McKesson's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the business posted $6.18 earnings per share. As a group, equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is 10.99%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by company insiders.

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.