Rockefeller Capital Management L.P. Reduces Stock Holdings in McKesson Co. (NYSE:MCK)

Rockefeller Capital Management L.P. lowered its stake in shares of McKesson Co. (NYSE:MCK) by 6.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,949 shares of the company’s stock after selling 1,884 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in McKesson were worth $12,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCK. Isthmus Partners LLC purchased a new stake in McKesson in the 3rd quarter worth about $504,000. Peterson Wealth Management bought a new position in shares of McKesson during the third quarter valued at approximately $938,000. Northwest & Ethical Investments L.P. raised its holdings in shares of McKesson by 9.1% in the third quarter. Northwest & Ethical Investments L.P. now owns 37,120 shares of the company’s stock worth $18,353,000 after buying an additional 3,095 shares during the period. Financial Counselors Inc. lifted its stake in shares of McKesson by 4.4% during the 3rd quarter. Financial Counselors Inc. now owns 916 shares of the company’s stock worth $453,000 after acquiring an additional 39 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in McKesson by 18.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,678 shares of the company’s stock valued at $2,807,000 after acquiring an additional 900 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MCK shares. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Mizuho upped their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company reduced their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Stock Performance

Shares of McKesson stock opened at $621.39 on Tuesday. The company has a market capitalization of $78.88 billion, a PE ratio of 32.18, a P/E/G ratio of 1.36 and a beta of 0.44. The company has a 50-day simple moving average of $542.22 and a two-hundred day simple moving average of $560.02. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the business posted $6.23 EPS. McKesson’s revenue was up 21.3% on a year-over-year basis. On average, equities analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.11% 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.