Jackson Square Capital LLC Sells 963 Shares of McKesson Co. (NYSE:MCK)

Jackson Square Capital LLC trimmed its stake in McKesson Co. (NYSE:MCK) by 44.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,227 shares of the company’s stock after selling 963 shares during the quarter. Jackson Square Capital LLC’s holdings in McKesson were worth $699,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Distillate Capital Partners LLC grew its stake in McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp raised its holdings in McKesson by 50.8% in the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in McKesson by 2,143.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after acquiring an additional 1,393 shares in the last quarter. Commerce Bank raised its holdings in McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after acquiring an additional 3,020 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of McKesson in the 2nd quarter valued at $12,331,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 0.4 %

Shares of NYSE:MCK opened at $592.69 on Friday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The stock has a market capitalization of $75.24 billion, a P/E ratio of 30.69, a PEG ratio of 1.26 and a beta of 0.52. The firm has a fifty day simple moving average of $595.11 and a two-hundred day simple moving average of $561.34.

McKesson (NYSE:MCK) last released its quarterly 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 firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.23 EPS. On average, analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley upped 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. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Evercore ISI boosted their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $646.14.

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.