McKesson Co. (NYSE:MCK) Holdings Raised by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in shares of McKesson Co. (NYSE:MCK) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 265,488 shares of the company’s stock after purchasing an additional 6,091 shares during the period. Victory Capital Management Inc.’s holdings in McKesson were worth $151,304,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MCK. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the third quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the third quarter valued at $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson during the fourth quarter valued at $33,000. Finally, Creative Capital Management Investments LLC purchased a new stake in McKesson in the 4th quarter worth about $44,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MCK shares. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two 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. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Price Performance

MCK opened at $640.39 on Thursday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $653.92. The business has a 50-day moving average of $598.01 and a 200-day moving average of $566.15. The company has a market capitalization of $80.26 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is 13.00%.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated 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 in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,268 shares of company stock valued at $11,536,378. Insiders own 0.11% of the company’s stock.

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.