Kovitz Investment Group Partners LLC Reduces Position in McKesson Co. (MCK)

Kovitz Investment Group Partners LLC reduced its stake in McKesson Co. (NYSE:MCK) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,165 shares of the company’s stock after selling 11,602 shares during the period. McKesson accounts for 2.3% of Kovitz Investment Group Partners LLC’s portfolio, making the stock its 16th largest position. Kovitz Investment Group Partners LLC owned approximately 0.17% of McKesson worth $54,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in MCK. Nationwide Fund Advisors raised its stake in McKesson by 4.8% in the third quarter. Nationwide Fund Advisors now owns 272,349 shares of the company’s stock worth $41,836,000 after buying an additional 12,464 shares in the last quarter. Sei Investments Co. raised its stake in McKesson by 2.4% in the third quarter. Sei Investments Co. now owns 20,421 shares of the company’s stock worth $3,136,000 after buying an additional 469 shares in the last quarter. Teacher Retirement System of Texas raised its stake in McKesson by 43.3% in the third quarter. Teacher Retirement System of Texas now owns 147,684 shares of the company’s stock worth $22,686,000 after buying an additional 44,646 shares in the last quarter. Bank of New York Mellon Corp raised its stake in McKesson by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 2,540,305 shares of the company’s stock worth $390,217,000 after buying an additional 154,967 shares in the last quarter. Finally, Allen Investment Management LLC bought a new position in McKesson in the third quarter worth about $1,111,000. 88.65% of the stock is owned by institutional investors.

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A number of research firms recently issued reports on MCK. Zacks Investment Research raised shares of McKesson from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a research note on Friday, February 2nd. ValuEngine downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Bank of America started coverage on shares of McKesson in a research note on Tuesday, February 27th. They set a “buy” rating and a $179.00 target price for the company. Mizuho set a $186.00 target price on shares of McKesson and gave the company a “hold” rating in a research note on Wednesday, January 24th. Finally, Jefferies Group raised shares of McKesson from a “hold” rating to a “buy” rating and set a $205.00 target price for the company in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $176.74.

Shares of MCK opened at $139.71 on Friday. The company has a market cap of $29,166.06, a P/E ratio of 12.03, a PEG ratio of 1.26 and a beta of 1.32. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. McKesson Co. has a twelve month low of $133.82 and a twelve month high of $178.86.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, February 1st. The company reported $3.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.49. The company had revenue of $53.62 billion during the quarter, compared to the consensus estimate of $51.98 billion. McKesson had a net margin of 2.34% and a return on equity of 22.98%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.04 earnings per share. sell-side analysts anticipate that McKesson Co. will post 12.71 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 1st were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Wednesday, February 28th. McKesson’s dividend payout ratio (DPR) is currently 11.71%.

In related news, SVP Erin M. Lampert sold 1,413 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $149.38, for a total transaction of $211,073.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

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McKesson Company Profile

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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