Clifford Swan Investment Counsel LLC Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Clifford Swan Investment Counsel LLC cut its stake in McKesson Co. (NYSE:MCK) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,732 shares of the company’s stock after selling 1,066 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in McKesson were worth $23,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCK. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the third quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter valued at $31,000. Synergy Asset Management LLC purchased a new position in McKesson in the fourth quarter valued at $32,000. Crews Bank & Trust purchased a new position in McKesson in the fourth quarter valued at $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson in the fourth quarter valued at $44,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was 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 owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock worth $11,536,378 in the last quarter. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MCK. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Performance

MCK opened at $640.82 on Friday. The business’s 50-day simple moving average is $594.13 and its 200-day simple moving average is $564.17. McKesson Co. has a one year low of $464.42 and a one year high of $641.70. The stock has a market capitalization of $80.31 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, equities research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

McKesson 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.