Tsfg LLC Lowers Position in McKesson Co. (NYSE:MCK)

Tsfg LLC reduced its stake in McKesson Co. (NYSE:MCK) by 11.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 381 shares of the company’s stock after selling 49 shares during the period. Tsfg LLC’s holdings in McKesson were worth $217,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MCK. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the 3rd quarter valued at $29,000. Wolff Wiese Magana LLC grew its position in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson during the third quarter worth about $31,000. ORG Wealth Partners LLC acquired a new stake in shares of McKesson during the third quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $584.62 on Tuesday. The firm’s fifty day moving average price is $593.71 and its 200 day moving average price is $560.83. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The company has a market capitalization of $74.21 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.23 earnings per share. As a group, sell-side analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, 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 document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MCK shares. Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

About McKesson

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.