McKesson Co. (NYSE:MCK) Stock Position Decreased by Van ECK Associates Corp

Van ECK Associates Corp lessened its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 13.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,910 shares of the company's stock after selling 8,202 shares during the period. Van ECK Associates Corp's holdings in McKesson were worth $25,422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. International Assets Investment Management LLC boosted its holdings in McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company's stock valued at $380,228,000 after purchasing an additional 749,504 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company's stock valued at $2,238,953,000 after buying an additional 708,438 shares in the last quarter. Morgan Stanley grew its position in shares of McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company's stock valued at $1,042,937,000 after buying an additional 294,832 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in McKesson by 92.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company's stock worth $246,969,000 after acquiring an additional 272,266 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in McKesson by 5,683.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company's stock valued at $104,178,000 after acquiring an additional 221,125 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MCK shares. UBS Group increased their price objective on McKesson from $575.00 to $620.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Leerink Partnrs reaffirmed an "outperform" rating on shares of McKesson in a report on Monday, February 26th. Barclays began coverage on McKesson in a research report on Wednesday, January 3rd. They set an "overweight" rating and a $537.00 price objective for the company. Morgan Stanley increased their price target on McKesson from $522.00 to $548.00 and gave the stock an "overweight" rating in a report on Monday, April 15th. Finally, Mizuho boosted their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $536.71.

Insider Transactions at McKesson

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

McKesson Stock Down 1.1 %

Shares of MCK traded down $6.00 on Wednesday, reaching $531.21. The stock had a trading volume of 1,170,822 shares, compared to its average volume of 699,786. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $544.81. The firm has a market capitalization of $69.81 billion, a PE ratio of 24.34, a PEG ratio of 1.42 and a beta of 0.45. The firm has a 50-day moving average of $529.26 and a 200 day moving average of $491.02.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. The company had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson's revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.90 earnings per share. On average, sell-side analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Friday, May 31st. McKesson's dividend payout ratio (DPR) is presently 11.24%.

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.