Prudential Financial Inc. Purchases 35,132 Shares of McKesson Co. (NYSE:MCK)

Prudential Financial Inc. lifted its position in shares of McKesson Co. (NYSE:MCK) by 32.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,729 shares of the company’s stock after purchasing an additional 35,132 shares during the quarter. Prudential Financial Inc. owned 0.11% of McKesson worth $82,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in shares of McKesson by 7.6% in the third quarter. Cerity Partners LLC now owns 44,224 shares of the company’s stock worth $21,867,000 after acquiring an additional 3,127 shares in the last quarter. Penserra Capital Management LLC grew its position in shares of McKesson by 21.7% in the 3rd quarter. Penserra Capital Management LLC now owns 1,075 shares of the company’s stock valued at $530,000 after purchasing an additional 192 shares during the period. Larson Financial Group LLC increased its stake in McKesson by 4.3% during the 3rd quarter. Larson Financial Group LLC now owns 1,141 shares of the company’s stock worth $564,000 after purchasing an additional 47 shares in the last quarter. Centaurus Financial Inc. raised its holdings in McKesson by 518.4% during the 3rd quarter. Centaurus Financial Inc. now owns 2,152 shares of the company’s stock worth $1,064,000 after buying an additional 1,804 shares during the period. Finally, Summit Trail Advisors LLC lifted its stake in McKesson by 11.9% in the third quarter. Summit Trail Advisors LLC now owns 1,401 shares of the company’s stock valued at $693,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the 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 transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock worth $11,187,351 over the last quarter. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Finally, Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Trading Up 0.1 %

MCK stock opened at $661.56 on Tuesday. The business’s 50 day simple moving average is $617.68 and its 200 day simple moving average is $575.39. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $670.79. The firm has a market capitalization of $82.91 billion, a PE ratio of 30.29, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.