BlackRock, Inc disclosed that they own a 7.4% stake in McKesson Co. (NYSE:MCK) in a Schedule 13G/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Tuesday, January 26th. The investor owns 17,130,023 shares of the stock valued at about $2,929,062,633. The filing is available through the SEC website at this hyperlink.

A number of other hedge funds also recently bought and sold shares of the company. Beacon Capital Management bought a new stake in McKesson during the fourth quarter worth about $0. Perigon Wealth Management increased its position in McKesson by 3.6% in the third quarter. Perigon Wealth Management now owns 1,312 shares of the company’s stock valued at $243,000 after buying an additional 45 shares during the last quarter. Appleton Partners Inc. MA acquired a new position in McKesson during the fourth quarter valued at $297,000. Gilman Hill Asset Management LLC increased its position in McKesson by 8.9% in the fourth quarter. Gilman Hill Asset Management LLC now owns 1,525 shares of the company’s stock valued at $301,000 after buying an additional 125 shares during the last quarter. Finally, Quantitative Systematic Strategies acquired a new position in McKesson during the fourth quarter valued at $306,000.

Shares of McKesson Co. (NYSE:MCK) traded up 0.48% during midday trading on Tuesday, reaching $170.99. 1,794,171 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $185.01 and its 200 day moving average price is $196.44. The firm has a market capitalization of $39.35 billion and a PE ratio of 22.37. McKesson Co. has a one year low of $156.31 and a one year high of $243.61.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, October 29th. The company reported $3.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.99 by $0.32. During the same quarter in the prior year, the company posted $2.79 EPS. The company had revenue of $48.60 billion for the quarter, compared to the consensus estimate of $47.85 billion. McKesson’s revenue was up 10.4% on a year-over-year basis. On average, equities research analysts expect that McKesson Co. will post $12.77 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Friday, November 27th.

MCK has been the subject of several recent research reports. Robert W. Baird reduced their target price on shares of McKesson from $260.00 to $239.00 in a research note on Friday, October 30th. Raymond James downgraded shares of McKesson from a “strong-buy” rating to an “outperform” rating and set a $225.00 target price for the company. in a research note on Wednesday, January 6th. Goldman Sachs downgraded shares of McKesson from a “conviction-buy” rating to a “buy” rating and reduced their target price for the stock from $241.00 to $210.00 in a research note on Wednesday, November 4th. Cowen and Company reduced their target price on shares of McKesson from $254.00 to $237.00 in a research note on Wednesday, October 21st. Finally, FBR & Co. reduced their target price on shares of McKesson from $240.00 to $210.00 and set an “outperform” rating for the company in a research note on Tuesday, January 12th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $218.54.

In other news, CEO John H. Hammergren sold 101,833 shares of the company’s stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $190.06, for a total transaction of $19,354,379.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

McKesson Corporation (NYSE:MCK) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two business segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally. The Distribution Solutions segment provides pharmaceutical solutions for biotech and pharmaceutical manufacturers, and practice management, technology, clinical support and business solutions to oncology and other specialty practices operating in the community setting. The Technology Solutions segment delivers clinical, patient care, financial, supply chain and strategic management software solutions, as well as connectivity, outsourcing and other services, including remote hosting and managed services, to healthcare organizations.

12 Month Chart for NYSE:MCK

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