West Oak Capital LLC Sells 55 Shares of McKesson Co. (NYSE:MCK)

West Oak Capital LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 17.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 255 shares of the company’s stock after selling 55 shares during the period. West Oak Capital LLC’s holdings in McKesson were worth $145,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MCK. Massachusetts Financial Services Co. MA boosted its holdings in McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares in the last quarter. FMR LLC boosted its stake in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after buying an additional 438,423 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $1,306,873,000 after acquiring an additional 26,299 shares during the period. Legal & General Group Plc raised its stake in McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after acquiring an additional 36,583 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after acquiring an additional 425,875 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

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

McKesson Price Performance

MCK opened at $584.62 on Tuesday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company has a market cap of $74.21 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52. The firm has a 50 day simple moving average of $593.71 and a 200 day simple moving average of $560.83.

McKesson (NYSE:MCK) last posted its quarterly 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. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the company earned $6.23 EPS. The firm’s revenue was up 21.3% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. McKesson’s dividend payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MCK shares. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Bank of America decreased their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company 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.