McKesson Co. (NYSE:MCK) Stock Position Increased by West Oak Capital LLC

West Oak Capital LLC boosted its position in shares of McKesson Co. (NYSE:MCK) by 867.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,000 shares of the company’s stock after buying an additional 2,690 shares during the period. West Oak Capital LLC’s holdings in McKesson were worth $1,710,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MCK. International Assets Investment Management LLC boosted its stake in shares of McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after acquiring an additional 734,849 shares in the last quarter. FMR LLC boosted its position in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the period. The Manufacturers Life Insurance Company increased its stake in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Janus Henderson Group PLC raised its holdings in McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after buying an additional 321,119 shares during the period. Finally, Nordea Investment Management AB lifted its stake in McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCK. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday. Evercore ISI raised their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $646.14.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is owned by company insiders.

McKesson Trading Down 1.4 %

NYSE MCK traded down $8.53 during trading on Friday, reaching $581.73. The company’s stock had a trading volume of 597,052 shares, compared to its average volume of 615,492. The stock has a market capitalization of $73.84 billion, a PE ratio of 30.13, a PEG ratio of 1.25 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The business has a 50-day moving average price of $591.44 and a 200-day moving average price of $561.65.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.23 EPS. As a group, analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is 14.71%.

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.