TCW Group Inc. Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

TCW Group Inc. lowered its holdings in McKesson Co. (NYSE:MCK) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,286 shares of the company’s stock after selling 17,893 shares during the period. TCW Group Inc. owned 0.11% of McKesson worth $82,230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at $32,000. MidAtlantic Capital Management Inc. acquired a new stake in McKesson during the third quarter worth about $29,000. Crews Bank & Trust acquired a new stake in McKesson during the fourth quarter worth about $33,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the third quarter worth about $31,000. Finally, Creative Capital Management Investments LLC acquired a new stake in McKesson during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $597.68 on Friday. The company has a market capitalization of $74.91 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The stock has a 50-day moving average price of $589.02 and a 200 day moving average price of $562.01.

McKesson (NYSE:MCK) last issued its quarterly 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%. As a group, equities research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 188 shares of the 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 transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on 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 directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,307 shares of company stock valued at $6,177,790 in the last quarter. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several research analyst reports. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $645.79.

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.