Jackson Square Capital LLC Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

Jackson Square Capital LLC trimmed its position in McKesson Co. (NYSE:MCK) by 44.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after purchasing an additional 734,849 shares during the period. FMR LLC increased its position in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the period. The Manufacturers Life Insurance Company increased its position in McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares during the period. Janus Henderson Group PLC increased its position in McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after purchasing an additional 321,119 shares during the period. Finally, Nordea Investment Management AB increased its position in McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK opened at $592.69 on Friday. The stock has a market capitalization of $75.24 billion, a P/E ratio of 30.69, a P/E/G ratio of 1.26 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The company’s fifty day moving average is $595.11 and its two-hundred day moving average is $561.34.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.23 EPS. Sell-side analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

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

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCK. Morgan Stanley boosted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

About McKesson

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.