McKesson Co. (NYSE:MCK) Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC cut its holdings in shares of McKesson Co. (NYSE:MCK) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,089 shares of the company’s stock after selling 555 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in McKesson were worth $20,875,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of MCK. OFI Invest Asset Management purchased a new stake in shares of McKesson in the third quarter worth about $26,000. BKM Wealth Management LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $31,000. WASHINGTON TRUST Co grew its position in McKesson by 42.5% in the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after buying an additional 34 shares in the last quarter. Milestone Investment Advisors LLC acquired a new position in shares of McKesson during the third quarter valued at approximately $61,000. Finally, Orion Capital Management LLC acquired a new position in shares of McKesson during the 3rd quarter valued at $63,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MCK shares. Argus raised their price objective on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. UBS Group upped their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. SVB Leerink began coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective on the stock. Mizuho raised their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $536.71.

McKesson Stock Performance

McKesson stock traded down $1.41 during midday trading on Friday, reaching $528.86. The stock had a trading volume of 866,981 shares, compared to its average volume of 626,262. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $544.81. The stock has a market capitalization of $69.50 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. The firm’s fifty day simple moving average is $530.38 and its 200-day simple moving average is $492.60.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $6.90 earnings per share. On average, sell-side analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio is 11.24%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.