Voleon Capital Management LP Takes $4.10 Million Position in McKesson Co. (NYSE:MCK)

Voleon Capital Management LP purchased a new stake in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,200 shares of the company's stock, valued at approximately $4,103,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. Norges Bank purchased a new stake in shares of McKesson during the 4th quarter worth approximately $1,200,361,000. Marshall Wace LLP boosted its position in McKesson by 59,720.3% during the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after purchasing an additional 358,322 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in McKesson in the fourth quarter valued at $178,397,000. Alliancebernstein L.P. increased its position in shares of McKesson by 46.6% in the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company's stock valued at $487,462,000 after buying an additional 272,068 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of McKesson by 259.7% during the 4th quarter. Voya Investment Management LLC now owns 338,378 shares of the company's stock worth $192,845,000 after buying an additional 244,315 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Performance

Shares of NYSE:MCK traded up $0.51 during midday trading on Friday, hitting $707.28. 866,297 shares of the company's stock traded hands, compared to its average volume of 889,989. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The company has a market cap of $88.64 billion, a PE ratio of 32.38, a P/E/G ratio of 1.29 and a beta of 0.49. The firm's fifty day moving average price is $671.24 and its two-hundred day moving average price is $613.31.

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

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson's payout ratio is currently 13.00%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business'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 completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,110 shares of company stock valued at $10,855,706. Corporate insiders own 0.11% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MCK shares. Bank of America raised their price objective 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. Morgan Stanley raised their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Three investment 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 MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus price target of $681.00.

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.