McKesson Co. (NYSE:MCK) Shares Bought by Watershed Asset Management L.L.C.

Watershed Asset Management L.L.C. increased its stake in McKesson Co. (NYSE:MCK) by 9.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 643 shares of the company’s stock after purchasing an additional 58 shares during the period. Watershed Asset Management L.L.C.’s holdings in McKesson were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after acquiring an additional 749,504 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after acquiring an additional 708,438 shares during the period. Morgan Stanley lifted its stake in McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after acquiring an additional 294,832 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in McKesson by 92.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock valued at $246,969,000 after acquiring an additional 272,266 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in McKesson by 5,683.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock valued at $104,178,000 after acquiring an additional 221,125 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE MCK traded up $4.55 on Tuesday, hitting $531.87. The company had a trading volume of 490,759 shares, compared to its average volume of 687,474. The company has a market capitalization of $69.89 billion, a PE ratio of 24.10, a PEG ratio of 1.42 and a beta of 0.45. The company’s fifty day moving average price is $526.12 and its 200-day moving average price is $488.15. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $543.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.90 EPS. On average, sell-side analysts anticipate that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s payout ratio is 11.24%.

Analysts Set New Price Targets

Several brokerages have commented on MCK. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Morgan Stanley lifted their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Barclays started coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price for the company. Finally, SVB Leerink started coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Insiders own 0.21% 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.