Donaldson Capital Management LLC Decreases Holdings in McKesson Co. (NYSE:MCK)

Donaldson Capital Management LLC lowered its stake in McKesson Co. (NYSE:MCK) by 26.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 613 shares of the company’s stock after selling 219 shares during the period. Donaldson Capital Management LLC’s holdings in McKesson were worth $284,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Legacy Financial Group LLC acquired a new stake in shares of McKesson during the 3rd quarter worth $27,000. OFI Invest Asset Management purchased a new stake in McKesson during the 3rd quarter worth approximately $26,000. BKM Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at approximately $31,000. Live Oak Investment Partners purchased a new position in shares of McKesson during the 4th quarter valued at approximately $30,000. Finally, Covestor Ltd grew its position in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after buying an additional 34 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 1.2 %

NYSE MCK traded up $6.22 during trading on Tuesday, hitting $528.90. The company’s stock had a trading volume of 65,150 shares, compared to its average volume of 688,034. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00. The firm has a market cap of $69.50 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. The firm has a 50 day moving average price of $523.34 and a 200 day moving average price of $484.53.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is 11.24%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MCK. SVB Leerink started coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective on the stock. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Citigroup upped their price objective on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Barclays started coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. Finally, Argus boosted their target price on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

Insider Buying and Selling at McKesson

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

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.