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

Rockefeller Capital Management L.P. lowered its position in McKesson Co. (NYSE:MCK) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,949 shares of the company’s stock after selling 1,884 shares during the period. Rockefeller Capital Management L.P.’s holdings in McKesson were worth $12,847,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in shares of McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after acquiring an additional 734,849 shares during the period. FMR LLC grew its position in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of 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 buying an additional 425,875 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings 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 valued at $2,444,175,000 after buying an additional 138,685 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of McKesson by 581.0% in the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after buying an additional 129,031 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. Citigroup lifted their price target on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Barclays lifted their target price on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Leerink Partners lowered their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. JPMorgan Chase & Co. lifted their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company lowered their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Two research 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

McKesson Price Performance

Shares of NYSE:MCK opened at $621.39 on Tuesday. The business’s 50 day moving average price is $542.22 and its 200-day moving average price is $560.02. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm 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.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $6.23 EPS. As a group, analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

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.