Thompson Investment Management Inc. Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

Thompson Investment Management Inc. lessened its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 26.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,640 shares of the company's stock after selling 2,342 shares during the quarter. Thompson Investment Management Inc.'s holdings in McKesson were worth $4,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new position in McKesson during the 4th quarter worth approximately $26,000. Millstone Evans Group LLC purchased a new position in shares of McKesson during the fourth quarter valued at $28,000. Atala Financial Inc acquired a new position in McKesson during the fourth quarter valued at $34,000. Graney & King LLC purchased a new stake in McKesson in the 4th quarter worth about $38,000. Finally, Creative Capital Management Investments LLC acquired a new stake in McKesson during the 4th quarter worth about $44,000. Institutional investors own 85.07% of the company's stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 19,370 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the sale, the chief executive officer now directly owns 51,243 shares in the company, valued at $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer now directly owns 1,972 shares in the company, valued at $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,117 shares of company stock worth $23,526,451. Corporate insiders own 0.11% of the company's stock.

McKesson Stock Performance

MCK traded down $3.65 during trading hours on Friday, reaching $727.15. The company's stock had a trading volume of 518,101 shares, compared to its average volume of 918,481. The company's 50-day moving average is $701.80 and its 200-day moving average is $643.67. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $732.09. The firm has a market cap of $90.98 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period in the prior year, the firm posted $6.18 EPS. The company's revenue for the quarter was up 18.9% on a year-over-year basis. Equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is currently 10.99%.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent research reports. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. UBS Group raised their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Morgan Stanley increased their price objective on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 30th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $694.38.

About McKesson

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.