Thoroughbred Financial Services LLC Acquires 44 Shares of McKesson Co. (NYSE:MCK)

Thoroughbred Financial Services LLC increased its holdings in shares of McKesson Co. (NYSE:MCK) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,273 shares of the company’s stock after buying an additional 44 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in McKesson were worth $2,435,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MCK. Geode Capital Management LLC lifted its stake in shares of McKesson by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock valued at $1,513,195,000 after acquiring an additional 10,015 shares during the last quarter. Franklin Resources Inc. raised its position in McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock valued at $1,493,704,000 after purchasing an additional 114,396 shares during the last quarter. Norges Bank acquired a new stake in shares of McKesson during the fourth quarter valued at about $1,200,361,000. Boston Partners increased its stake in shares of McKesson by 24.6% in the fourth quarter. Boston Partners now owns 1,096,301 shares of the company’s stock valued at $625,501,000 after buying an additional 216,432 shares during the period. Finally, Nordea Investment Management AB raised its holdings in McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is owned by company insiders.

McKesson Trading Down 4.8 %

MCK opened at $682.41 on Friday. The company has a fifty day moving average price of $633.37 and a two-hundred day moving average price of $584.91. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.32. The company has a market cap of $85.52 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

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

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley increased their price objective on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $661.00.

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.