T. Rowe Price Investment Management Inc. Has $1.62 Billion Holdings in McKesson Co. (NYSE:MCK)

T. Rowe Price Investment Management Inc. increased its stake in McKesson Co. (NYSE:MCK - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,847,385 shares of the company's stock after purchasing an additional 222,496 shares during the period. McKesson accounts for 1.0% of T. Rowe Price Investment Management Inc.'s portfolio, making the stock its 15th largest position. T. Rowe Price Investment Management Inc. owned approximately 2.24% of McKesson worth $1,622,754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. MGO One Seven LLC boosted its position in shares of McKesson by 9.2% during the fourth quarter. MGO One Seven LLC now owns 5,357 shares of the company's stock worth $3,053,000 after buying an additional 453 shares during the period. Dark Forest Capital Management LP boosted its position in 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 acquiring an additional 460 shares during the period. Quantessence Capital LLC bought a new position in shares of McKesson in the fourth quarter worth $3,508,000. Alta Advisers Ltd raised its stake in shares of McKesson by 5.5% during the fourth quarter. Alta Advisers Ltd now owns 422 shares of the company's stock valued at $241,000 after purchasing an additional 22 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in McKesson by 0.8% in the fourth quarter. Hsbc Holdings PLC now owns 288,470 shares of the company's stock worth $164,378,000 after purchasing an additional 2,336 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on MCK. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus price target of $668.50.

McKesson Price Performance

McKesson stock traded up $0.72 during midday trading on Monday, reaching $695.72. The stock had a trading volume of 188,544 shares, compared to its average volume of 890,276. The firm's fifty day simple moving average is $661.28 and its two-hundred day simple moving average is $607.86. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The firm has a market cap of $87.19 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 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%. As a group, sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio (DPR) is 13.00%.

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.