Hillsdale Investment Management Inc. Raises Stock Position in McKesson Co. (NYSE:MCK)

Hillsdale Investment Management Inc. raised its stake in shares of McKesson Co. (NYSE:MCK) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,580 shares of the company’s stock after buying an additional 100 shares during the period. Hillsdale Investment Management Inc.’s holdings in McKesson were worth $900,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. FMR LLC boosted its position in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of McKesson by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after buying an additional 26,299 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after buying an additional 425,875 shares during the period. Boston Partners increased its holdings in McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company’s stock valued at $625,501,000 after buying an additional 216,432 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after acquiring an additional 162,688 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Bank of America lowered their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Finally, Citigroup dropped their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Two equities 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 company’s stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Stock Down 1.0 %

Shares of NYSE:MCK opened at $659.45 on Monday. The firm has a fifty day simple moving average of $616.14 and a two-hundred day simple moving average of $574.35. The stock has a market capitalization of $82.65 billion, a P/E ratio of 30.19, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $673.23.

McKesson (NYSE:MCK) last announced 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 over the last 90 days. Company insiders own 0.11% of the company’s stock.

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.