T. Rowe Price Investment Management Inc. Has $1.62 Billion Position in McKesson Co. (NYSE:MCK)

T. Rowe Price Investment Management Inc. boosted its position in shares of McKesson Co. (NYSE:MCK) by 8.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,847,385 shares of the company’s stock after buying an additional 222,496 shares during the quarter. McKesson makes up approximately 1.0% of T. Rowe Price Investment Management Inc.’s holdings, making the stock its 15th largest holding. T. Rowe Price Investment Management Inc.’s holdings in McKesson were worth $1,622,754,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Te Ahumairangi Investment Management Ltd boosted its holdings in McKesson by 19.2% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 11,729 shares of the company’s stock valued at $5,766,000 after acquiring an additional 1,890 shares during the last quarter. World Investment Advisors LLC acquired a new position in McKesson during the 3rd quarter valued at about $2,229,000. Wilmington Savings Fund Society FSB boosted its stake in shares of McKesson by 817.1% in the 3rd 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 grew 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 buying an additional 43,424 shares during the period. Finally, Castellan Group raised its stake in shares of McKesson by 4.0% during the third quarter. Castellan Group now owns 10,200 shares of the company’s stock worth $5,043,000 after buying an additional 391 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

MCK stock opened at $695.61 on Wednesday. The business has a 50-day moving average of $655.50 and a 200-day moving average of $603.03. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32. The stock has a market capitalization of $87.18 billion, a P/E ratio of 31.85, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last released 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%. Equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson’s payout ratio is currently 13.00%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred 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 directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock valued at $10,855,706 in the last three months. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MCK. Mizuho raised their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Bank of America increased their target price on McKesson from $665.00 to $755.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average 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.