McKesson Co. (NYSE:MCK) Shares Bought by Boston Partners

Boston Partners lifted its position in shares of McKesson Co. (NYSE:MCK) by 24.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,096,301 shares of the company’s stock after buying an additional 216,432 shares during the quarter. McKesson makes up 0.8% of Boston Partners’ investment portfolio, making the stock its 27th largest position. Boston Partners’ holdings in McKesson were worth $625,501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. Oppenheimer Asset Management Inc. lifted its position in shares of McKesson by 3.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 3,090 shares of the company’s stock worth $1,528,000 after purchasing an additional 98 shares in the last quarter. Claro Advisors LLC increased its stake in McKesson by 11.6% during the third quarter. Claro Advisors LLC now owns 2,388 shares of the company’s stock valued at $1,180,000 after purchasing an additional 248 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of McKesson by 5.8% during the third quarter. Thrivent Financial for Lutherans now owns 20,142 shares of the company’s stock worth $9,964,000 after acquiring an additional 1,106 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the third quarter worth about $29,000. Finally, Aviance Capital Partners LLC grew its position in shares of McKesson by 31.6% during the third quarter. Aviance Capital Partners LLC now owns 820 shares of the company’s stock worth $405,000 after acquiring an additional 197 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent analyst reports. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Wells Fargo & Company upped their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday. Morgan Stanley upped their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Bank of America dropped their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two investment 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 stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of the 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 completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 in the last quarter. 0.11% of the stock is currently owned by insiders.

McKesson Stock Up 0.8 %

McKesson stock opened at $655.32 on Tuesday. The stock has a 50-day simple moving average of $610.04 and a 200 day simple moving average of $571.65. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $663.62. The stock has a market capitalization of $82.13 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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, sell-side analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson’s dividend payout ratio is presently 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.