McKesson Co. (NYSE:MCK) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its position in McKesson Co. (NYSE:MCK - Free Report) by 12.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 64,292 shares of the company's stock after selling 9,263 shares during the period. Wedge Capital Management L L P NC's holdings in McKesson were worth $29,766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James & Associates boosted its position in McKesson by 6.1% in the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company's stock worth $70,919,000 after purchasing an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company's stock valued at $39,714,000 after buying an additional 5,425 shares in the last quarter. Insight Wealth Strategies LLC purchased a new position in shares of McKesson during the 4th quarter valued at about $1,813,000. Aspire Private Capital LLC lifted its position in shares of McKesson by 3.2% during the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company's stock valued at $851,000 after buying an additional 60 shares in the last quarter. Finally, Argus Investors Counsel Inc. purchased a new position in shares of McKesson during the 4th quarter valued at about $891,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,473 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company's stock, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of the company's stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the company's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company's stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Argus lifted their price objective on McKesson from $510.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday, April 10th. UBS Group lifted their price objective on McKesson from $575.00 to $620.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 4th. Leerink Partnrs reissued an "outperform" rating on shares of McKesson in a research note on Monday, February 26th. Finally, Morgan Stanley lifted their target price on McKesson from $522.00 to $548.00 and gave the company an "overweight" rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $533.50.

McKesson Stock Performance

NYSE:MCK traded up $2.96 during trading hours on Monday, reaching $527.79. The stock had a trading volume of 893,491 shares, compared to its average volume of 691,466. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00. The company has a 50 day moving average price of $525.58 and a two-hundred day moving average price of $487.54. The stock has a market capitalization of $69.36 billion, a PE ratio of 23.91, a PEG ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter in the previous year, the company posted $6.90 EPS. The company's revenue was up 14.8% compared to the same quarter last year. Equities research analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson's dividend payout ratio is currently 11.24%.

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.