Mesirow Financial Investment Management Inc. Lowers Stock Position in McKesson Co. (NYSE:MCK)

Mesirow Financial Investment Management Inc. cut its position in shares of McKesson Co. (NYSE:MCK) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,953 shares of the company’s stock after selling 176 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in McKesson were worth $3,963,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after buying an additional 138,685 shares during the last quarter. FMR LLC lifted its holdings in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the period. Geode Capital Management LLC boosted its position in McKesson by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in McKesson by 55.8% in 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. Finally, Nordea Investment Management AB increased its position in shares of 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 last quarter. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCK. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley raised their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company increased their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Stock Up 0.5 %

MCK stock opened at $644.92 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $653.92. The firm has a market capitalization of $80.82 billion, a PE ratio of 29.53, a PEG ratio of 1.29 and a beta of 0.52. The stock has a 50-day simple moving average of $600.67 and a two-hundred day simple moving average of $567.36.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is 13.00%.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,268 shares of company stock worth $11,536,378 over the last ninety days. 0.11% of the stock is owned by corporate insiders.

McKesson 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.