Tower Research Capital LLC TRC Acquires 3,858 Shares of McKesson Co. (NYSE:MCK)

Tower Research Capital LLC TRC increased its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 133.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,739 shares of the company's stock after buying an additional 3,858 shares during the period. Tower Research Capital LLC TRC's holdings in McKesson were worth $3,841,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Te Ahumairangi Investment Management Ltd increased its stake in shares of McKesson by 19.2% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 11,729 shares of the company's stock worth $5,766,000 after purchasing an additional 1,890 shares during the period. World Investment Advisors LLC bought a new position in McKesson during the 3rd quarter worth $2,229,000. Wilmington Savings Fund Society FSB boosted its position in shares of McKesson by 817.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,622 shares of the company's stock valued at $2,780,000 after acquiring an additional 5,009 shares during the period. Tidal Investments LLC boosted its position in shares of McKesson by 453.8% in the third quarter. Tidal Investments LLC now owns 52,992 shares of the company's stock valued at $26,200,000 after acquiring an additional 43,424 shares during the period. Finally, Castellan Group grew its stake in shares of McKesson by 4.0% in the third quarter. Castellan Group now owns 10,200 shares of the company's stock valued at $5,043,000 after acquiring an additional 391 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Price Performance

MCK stock traded up $6.19 during trading on Friday, reaching $694.62. 731,510 shares of the company were exchanged, compared to its average volume of 892,117. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The company has a market capitalization of $87.05 billion, a price-to-earnings ratio of 31.80, a P/E/G ratio of 1.29 and a beta of 0.49. The company has a 50-day moving average of $661.28 and a two-hundred day moving average of $606.43.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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, analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on 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. The trade was a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,110 shares of company stock valued at $10,855,706. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MCK. Wells Fargo & Company boosted their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Bank of America upped their target price on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $668.50.

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.