Sterling Capital Management LLC Has $7.21 Million Stock Position in McKesson Co. (NYSE:MCK)

Sterling Capital Management LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,643 shares of the company’s stock after purchasing an additional 788 shares during the quarter. Sterling Capital Management LLC’s holdings in McKesson were worth $7,205,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Frank Rimerman Advisors LLC lifted its position in shares of McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after acquiring an additional 17 shares during the period. Old North State Trust LLC boosted its stake in McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares in the last quarter. Trust Co. of Vermont increased its holdings in McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after buying an additional 18 shares during the period. Hemington Wealth Management raised its stake in shares of McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after buying an additional 18 shares in the last quarter. Finally, First Western Trust Bank lifted its holdings in shares of McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after acquiring an additional 18 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Bank of America boosted their price target on McKesson from $665.00 to $755.00 and gave the company a “buy” rating in a research note on Friday. Evercore ISI increased their target price 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. Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Finally, Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Three 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $668.50.

McKesson Trading Up 1.6 %

McKesson stock opened at $690.43 on Friday. The firm has a market capitalization of $86.53 billion, a P/E ratio of 31.61, a PEG ratio of 1.29 and a beta of 0.49. The business has a 50-day moving average of $642.70 and a 200-day moving average of $593.06. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.32.

McKesson (NYSE:MCK) last announced 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%. Research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson’s payout ratio is 13.00%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,110 shares of company stock worth $10,855,706. Company 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.