Thompson Investment Management Inc. Reduces Position in McKesson Co. (NYSE:MCK)

Thompson Investment Management Inc. cut its stake in shares of McKesson Co. (NYSE:MCK) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,725 shares of the company’s stock after selling 338 shares during the period. Thompson Investment Management Inc.’s holdings in McKesson were worth $6,295,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MCK. Kestra Advisory Services LLC boosted its stake in shares of McKesson by 1.9% during the third quarter. Kestra Advisory Services LLC now owns 1,947 shares of the company’s stock valued at $847,000 after purchasing an additional 37 shares during the period. LPL Financial LLC increased its holdings in shares of McKesson by 8.3% during the third quarter. LPL Financial LLC now owns 86,130 shares of the company’s stock valued at $37,454,000 after acquiring an additional 6,571 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in McKesson by 20.7% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 198 shares of the company’s stock worth $86,000 after purchasing an additional 34 shares during the last quarter. Consolidated Portfolio Review Corp bought a new stake in McKesson in the 3rd quarter worth approximately $210,000. Finally, PGIM Custom Harvest LLC lifted its stake in shares of McKesson by 7.5% during the 3rd quarter. PGIM Custom Harvest LLC now owns 631 shares of the company’s stock worth $274,000 after purchasing an additional 44 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of NYSE MCK traded down $6.27 during trading on Wednesday, hitting $598.15. The company had a trading volume of 227,841 shares, compared to its average volume of 701,550. The company has a market cap of $77.72 billion, a P/E ratio of 26.73, a PEG ratio of 1.41 and a beta of 0.47. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17. The business’s 50-day moving average is $561.74 and its 200 day moving average is $522.73.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same period last year, the firm earned $7.19 earnings per share. McKesson’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts expect that McKesson Co. will post 31.54 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio is currently 11.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MCK. Robert W. Baird increased their price objective on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Argus boosted their price objective on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup lifted their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. TD Cowen upped their price objective on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Barclays upped their price objective on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $590.47.

Insider Activity

In related news, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the sale, the executive vice president now directly owns 2,022 shares in the company, valued at $1,183,941.66. 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 600 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Susan R. Salka sold 606 shares of the company’s 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. Insiders have sold a total of 25,814 shares of company stock worth $14,511,649 in the last ninety days. 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.