Thompson Siegel & Walmsley LLC Decreases Position in McKesson Co. (NYSE:MCK)

Thompson Siegel & Walmsley LLC decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 6.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,402 shares of the company’s stock after selling 2,997 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in McKesson were worth $17,264,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in McKesson by 324.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,235,797 shares of the company’s stock worth $1,152,107,000 after buying an additional 2,472,584 shares during the period. Morgan Stanley increased its position in McKesson by 11.0% during the fourth quarter. Morgan Stanley now owns 2,152,581 shares of the company’s stock worth $807,477,000 after buying an additional 213,343 shares during the period. Norges Bank acquired a new position in McKesson during the fourth quarter worth approximately $633,960,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of McKesson by 11.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,256,740 shares of the company’s stock valued at $447,462,000 after purchasing an additional 124,533 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of McKesson by 587.1% in the first quarter. Envestnet Asset Management Inc. now owns 1,208,193 shares of the company’s stock valued at $61,655,000 after purchasing an additional 1,032,363 shares during the period. Hedge funds and other institutional investors own 82.69% of the company’s stock.

McKesson Price Performance

MCK traded down $0.58 during trading on Friday, reaching $450.20. 860,759 shares of the stock were exchanged, compared to its average volume of 873,757. The business’s 50 day moving average price is $447.20 and its two-hundred day moving average price is $420.93. The company has a market capitalization of $59.90 billion, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.56 and a beta of 0.56. McKesson Co. has a 1 year low of $331.75 and a 1 year high of $473.18.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 1st. The company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $6.11 by $0.12. The company had revenue of $77.22 billion for the quarter, compared to the consensus estimate of $76.03 billion. McKesson had a negative return on equity of 241.79% and a net margin of 1.20%. McKesson’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $6.06 earnings per share. On average, analysts anticipate that McKesson Co. will post 27.23 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be given a dividend of $0.62 per share. The ex-dividend date is Thursday, November 30th. This represents a $2.48 dividend on an annualized basis and a yield of 0.55%. McKesson’s payout ratio is 9.80%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 660 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $461.26, for a total transaction of $304,431.60. Following the sale, the executive vice president now directly owns 1,325 shares in the company, valued at $611,169.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Leann B. Smith sold 660 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $461.26, for a total value of $304,431.60. Following the sale, the executive vice president now directly owns 1,325 shares in the company, valued at $611,169.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 10,521 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $460.00, for a total value of $4,839,660.00. Following the completion of the sale, the chief executive officer now owns 67,408 shares in the company, valued at $31,007,680. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,082 shares of company stock worth $30,258,690. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MCK. Credit Suisse Group boosted their target price on McKesson from $450.00 to $485.00 and gave the company an “outperform” rating in a report on Friday, August 11th. Mizuho boosted their target price on McKesson from $427.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Evercore ISI boosted their target price on McKesson from $485.00 to $490.00 in a report on Wednesday, October 11th. Morgan Stanley boosted their target price on McKesson from $459.00 to $480.00 and gave the company an “overweight” rating in a report on Thursday, November 2nd. Finally, UBS Group boosted their target price on McKesson from $470.00 to $480.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $472.83.

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.