Columbia Asset Management Trims Position in McKesson Co. (NYSE:MCK)

Columbia Asset Management cut its stake in shares of McKesson Co. (NYSE:MCK) by 18.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,525 shares of the company’s stock after selling 995 shares during the quarter. Columbia Asset Management’s holdings in McKesson were worth $706,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Boston Partners increased its holdings in shares of McKesson by 61.5% in the fourth quarter. Boston Partners now owns 1,815,132 shares of the company’s stock valued at $283,070,000 after purchasing an additional 691,476 shares during the period. Baupost Group LLC MA acquired a new position in McKesson during the third quarter worth $76,805,000. Pzena Investment Management LLC grew its holdings in McKesson by 17.2% during the third quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock worth $377,655,000 after acquiring an additional 360,676 shares during the period. Dimensional Fund Advisors LP grew its holdings in McKesson by 51.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,017,320 shares of the company’s stock worth $156,273,000 after acquiring an additional 345,865 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in McKesson by 2,499.1% during the second quarter. Sterling Capital Management LLC now owns 355,560 shares of the company’s stock worth $58,504,000 after acquiring an additional 341,880 shares during the period. Institutional investors own 86.63% of the company’s stock.

In other McKesson news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $160.00, for a total transaction of $10,400,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

MCK has been the topic of several research reports. Credit Suisse Group reissued a “sell” rating and issued a $130.00 target price on shares of McKesson in a report on Friday, February 2nd. Mizuho set a $168.00 price objective on McKesson and gave the company a “hold” rating in a research report on Tuesday, October 24th. ValuEngine upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Zacks Investment Research upgraded McKesson from a “hold” rating to a “buy” rating and set a $177.00 price objective on the stock in a research report on Tuesday, December 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $173.00 target price (down from $178.00) on shares of McKesson in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $177.50.

Shares of McKesson Co. (NYSE:MCK) traded up $3.55 during midday trading on Wednesday, reaching $149.73. The company’s stock had a trading volume of 773,017 shares, compared to its average volume of 1,850,776. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63. McKesson Co. has a 12-month low of $133.82 and a 12-month high of $178.86. The firm has a market cap of $30,760.00, a price-to-earnings ratio of 7.20, a PEG ratio of 1.35 and a beta of 1.22.

McKesson (NYSE:MCK) last released its earnings results on Thursday, February 1st. The company reported $3.41 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.49. The company had revenue of $53.62 billion for the quarter, compared to the consensus estimate of $51.98 billion. McKesson had a return on equity of 22.98% and a net margin of 2.34%. McKesson’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.04 EPS. equities analysts anticipate that McKesson Co. will post 12.71 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 1st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, February 28th. McKesson’s dividend payout ratio (DPR) is 6.54%.

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About McKesson

McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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