McKesson Co. (NYSE:MCK) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in McKesson Co. (NYSE:MCK) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,139 shares of the company’s stock after buying an additional 17,852 shares during the period. Russell Investments Group Ltd.’s holdings in McKesson were worth $162,507,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Frank Rimerman Advisors LLC grew its stake in McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after purchasing an additional 17 shares in the last quarter. Old North State Trust LLC boosted its position in McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after purchasing an additional 18 shares during the period. Trust Co. of Vermont increased its position in McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the period. Hemington Wealth Management lifted its stake in McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after buying an additional 18 shares during the last quarter. Finally, First Western Trust Bank boosted its holdings in shares of McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock valued at $531,000 after acquiring an additional 18 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the 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. This represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,110 shares of company stock valued at $10,855,706. Insiders own 0.11% of the company’s stock.

McKesson Stock Down 4.8 %

MCK stock opened at $682.41 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.32. The company has a market cap of $85.52 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 1.29 and a beta of 0.49. The company has a 50 day moving average of $633.37 and a two-hundred day moving average of $584.91.

McKesson (NYSE:MCK) last issued its earnings results 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, research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s dividend payout ratio is currently 13.00%.

Analysts Set New Price Targets

A number of research analysts have issued reports on MCK shares. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company increased their price objective on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Morgan Stanley upped their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research note on Wednesday. Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two 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. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $661.00.

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.