Price T Rowe Associates Inc. MD Has $673.91 Million Holdings in McKesson Co. (NYSE:MCK)

Price T Rowe Associates Inc. MD trimmed its stake in McKesson Co. (NYSE:MCK - Free Report) by 12.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,182,478 shares of the company's stock after selling 166,285 shares during the period. Price T Rowe Associates Inc. MD owned 0.93% of McKesson worth $673,907,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MCK. Dark Forest Capital Management LP lifted its position in shares of McKesson by 81.4% during the 4th quarter. Dark Forest Capital Management LP now owns 1,025 shares of the company's stock worth $584,000 after purchasing an additional 460 shares during the last quarter. Quantessence Capital LLC bought a new stake in shares of McKesson in the fourth quarter valued at approximately $3,508,000. Alta Advisers Ltd grew its stake in shares of McKesson by 5.5% in the fourth quarter. Alta Advisers Ltd now owns 422 shares of the company's stock worth $241,000 after acquiring an additional 22 shares during the last quarter. Hsbc Holdings PLC increased its position in McKesson by 0.8% during the fourth quarter. Hsbc Holdings PLC now owns 288,470 shares of the company's stock worth $164,378,000 after acquiring an additional 2,336 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in McKesson by 246.1% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 34,609 shares of the company's stock valued at $19,725,000 after purchasing an additional 24,609 shares during the period. Institutional investors own 85.07% of the company's stock.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value 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. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 over the last ninety days. Company insiders own 0.11% of the company's stock.

McKesson Stock Up 0.5 %

Shares of McKesson stock traded up $3.85 during trading on Wednesday, reaching $711.13. 222,817 shares of the company were exchanged, compared to its average volume of 887,401. The firm has a market capitalization of $89.12 billion, a price-to-earnings ratio of 32.52, a P/E/G ratio of 1.29 and a beta of 0.49. The business has a 50-day moving average price of $665.30 and a 200-day moving average price of $609.90. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio is 13.00%.

Analysts Set New Price Targets

Several equities analysts have commented on MCK shares. Mizuho upped their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday. Wells Fargo & Company lifted their target price on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Finally, Bank of America raised their price target on shares of McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $681.00.

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.