Thompson Siegel & Walmsley LLC Lowers Stake in McKesson Co. (NYSE:MCK)

Thompson Siegel & Walmsley LLC lowered its stake in shares of McKesson Co. (NYSE:MCK) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,861 shares of the company’s stock after selling 1,102 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in McKesson were worth $21,577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its holdings in McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after buying an additional 138,685 shares during the period. FMR LLC increased its position in shares of McKesson by 17.3% during 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 in the last quarter. Geode Capital Management LLC increased its position in shares of McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent analyst reports. Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Performance

NYSE:MCK opened at $640.93 on Thursday. The firm’s fifty day moving average is $605.54 and its two-hundred day moving average is $569.47. McKesson Co. has a one year low of $464.42 and a one year high of $663.61. The firm has a market cap of $80.32 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 in the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

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.