TCW Group Inc. Decreases Holdings in McKesson Co. (NYSE:MCK)

TCW Group Inc. lowered its stake in McKesson Co. (NYSE:MCK) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,562 shares of the company’s stock after selling 2,202 shares during the period. TCW Group Inc. owned 0.10% of McKesson worth $64,603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. SageView Advisory Group LLC purchased a new position in shares of McKesson during the fourth quarter worth $710,000. FineMark National Bank & Trust lifted its stake in McKesson by 17.0% during the fourth quarter. FineMark National Bank & Trust now owns 710 shares of the company’s stock worth $329,000 after purchasing an additional 103 shares in the last quarter. Commerce Bank boosted its position in shares of McKesson by 1.0% during the fourth quarter. Commerce Bank now owns 182,372 shares of the company’s stock worth $84,435,000 after buying an additional 1,788 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of McKesson by 17.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 25,613 shares of the company’s stock valued at $11,858,000 after buying an additional 3,844 shares in the last quarter. Finally, Balboa Wealth Partners raised its holdings in shares of McKesson by 24.8% in the 4th quarter. Balboa Wealth Partners now owns 739 shares of the company’s stock valued at $342,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCK. Citigroup boosted their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Finally, Barclays boosted their target price on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $571.47.

McKesson Price Performance

MCK stock traded up $0.65 during midday trading on Thursday, reaching $558.03. 636,764 shares of the company’s stock traded hands, compared to its average volume of 711,089. The company has a market capitalization of $72.54 billion, a P/E ratio of 25.08, a PEG ratio of 1.29 and a beta of 0.45. McKesson Co. has a fifty-two week low of $373.28 and a fifty-two week high of $566.16. The business has a 50-day moving average price of $537.53 and a two-hundred day moving average price of $501.48.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $7.19 earnings per share. As a group, research analysts forecast that McKesson Co. will post 31.57 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s payout ratio is currently 11.08%.

Insider Transactions at McKesson

In other news, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan R. Salka sold 606 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,080 shares of company stock valued at $2,160,489. Corporate insiders own 0.21% of the company’s stock.

McKesson Company 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.