Advisors Capital Management LLC Has $26.19 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Advisors Capital Management LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 45,959 shares of the company’s stock after buying an additional 1,157 shares during the period. Advisors Capital Management LLC’s holdings in McKesson were worth $26,193,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Cibc World Market Inc. increased its holdings in McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after buying an additional 1,207 shares during the period. West Oak Capital LLC increased its stake in McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after acquiring an additional 2,690 shares during the last quarter. Brentview Investment Management LLC acquired a new position in McKesson during the fourth quarter valued at approximately $3,018,000. Ingalls & Snyder LLC lifted its stake in McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 1.6 %

MCK opened at $690.43 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The company has a fifty day moving average of $642.70 and a 200-day moving average of $593.06. The stock has a market cap of $86.53 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. Sell-side 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 was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on 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 owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,110 shares of company stock worth $10,855,706. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MCK. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Bank of America boosted their target price on McKesson from $665.00 to $755.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup reduced their price target on shares of 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 upped their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Finally, Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $668.50.

McKesson Company 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.