McKesson Co. (NYSE:MCK) Stock Position Lifted by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of McKesson Co. (NYSE:MCK) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,106 shares of the company’s stock after acquiring an additional 747 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in McKesson were worth $8,040,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MCK. Te Ahumairangi Investment Management Ltd boosted its holdings in shares of McKesson by 19.2% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 11,729 shares of the company’s stock valued at $5,766,000 after buying an additional 1,890 shares during the period. World Investment Advisors LLC acquired a new position in McKesson in the third quarter valued at approximately $2,229,000. Wilmington Savings Fund Society FSB grew its holdings in shares of McKesson by 817.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 5,622 shares of the company’s stock valued at $2,780,000 after purchasing an additional 5,009 shares during the last quarter. Tidal Investments LLC raised its position in shares of McKesson by 453.8% during the 3rd quarter. Tidal Investments LLC now owns 52,992 shares of the company’s stock worth $26,200,000 after purchasing an additional 43,424 shares during the period. Finally, Castellan Group lifted its holdings in shares of McKesson by 4.0% in the 3rd quarter. Castellan Group now owns 10,200 shares of the company’s stock worth $5,043,000 after purchasing an additional 391 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Bank of America upped their target price on shares of McKesson from $665.00 to $755.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Morgan Stanley raised their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $668.50.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s 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 sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of McKesson 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 transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $682.82 on Tuesday. The stock has a market capitalization of $85.58 billion, a P/E ratio of 31.26, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.32. The firm’s 50 day moving average is $653.64 and its 200-day moving average is $602.38.

McKesson (NYSE:MCK) last released 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, equities research analysts forecast 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 was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, March 3rd. McKesson’s payout ratio is 13.00%.

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.