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

Rockefeller Capital Management L.P. lowered its holdings in McKesson Co. (NYSE:MCK) by 23.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,986 shares of the company’s stock after selling 5,963 shares during the period. Rockefeller Capital Management L.P.’s holdings in McKesson were worth $11,377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCK. Te Ahumairangi Investment Management Ltd raised its holdings in McKesson by 19.2% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 11,729 shares of the company’s stock valued at $5,766,000 after acquiring an additional 1,890 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of McKesson in the 3rd quarter worth about $2,229,000. Wilmington Savings Fund Society FSB raised its stake in shares of McKesson by 817.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 5,622 shares of the company’s stock valued at $2,780,000 after purchasing an additional 5,009 shares in the last quarter. Tidal Investments LLC lifted its position in shares of McKesson by 453.8% during the third quarter. Tidal Investments LLC now owns 52,992 shares of the company’s stock worth $26,200,000 after purchasing an additional 43,424 shares during the last quarter. Finally, Castellan Group grew its stake in McKesson by 4.0% in the third quarter. Castellan Group now owns 10,200 shares of the company’s stock worth $5,043,000 after purchasing an additional 391 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is owned by company insiders.

McKesson Price Performance

Shares of MCK opened at $692.43 on Wednesday. The company has a 50-day moving average of $646.34 and a two-hundred day moving average of $595.97. The stock has a market cap of $86.78 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a one year low of $464.42 and a one year high of $728.32.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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%. Analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Mizuho raised their price objective on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Bank of America raised their price target on shares of McKesson from $665.00 to $755.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $668.50.

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.