McKesson Co. (NYSE:MCK) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in shares of McKesson Co. (NYSE:MCK) by 2.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 265,488 shares of the company’s stock after acquiring an additional 6,091 shares during the period. Victory Capital Management Inc. owned approximately 0.21% of McKesson worth $151,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in McKesson during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the 3rd quarter worth approximately $29,000. Crews Bank & Trust purchased a new stake in McKesson during the 4th quarter worth approximately $33,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the 3rd quarter worth approximately $31,000. Finally, Creative Capital Management Investments LLC purchased a new stake in McKesson during the 4th quarter worth approximately $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,268 shares of company stock valued at $11,536,378. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Bank of America dropped their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Price Performance

NYSE:MCK opened at $640.39 on Thursday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $653.92. The firm has a market capitalization of $80.26 billion, a P/E ratio of 29.32, a P/E/G ratio of 1.29 and a beta of 0.52. The business has a 50 day simple moving average of $598.01 and a 200 day simple moving average of $566.15.

McKesson (NYSE:MCK) last released its quarterly earnings data 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 net margin of 0.82% and a negative return on equity of 181.26%. Research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. McKesson’s payout ratio is 13.00%.

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.