Clifford Swan Investment Counsel LLC Sells 555 Shares of McKesson Co. (NYSE:MCK)

Clifford Swan Investment Counsel LLC trimmed its holdings in McKesson Co. (NYSE:MCK) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Massachusetts Financial Services Co. MA increased its stake in McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after purchasing an additional 708,438 shares in the last quarter. Morgan Stanley raised its holdings in shares of McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the period. Northern Trust Corp lifted its holdings in McKesson by 3.3% during the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after purchasing an additional 50,265 shares during the last quarter. Boston Partners grew its position in shares of McKesson by 12.5% in the third quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after purchasing an additional 133,351 shares during the last quarter. Finally, WCM Investment Management LLC boosted its position in shares of McKesson by 0.4% in the fourth quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock valued at $500,134,000 after acquiring an additional 4,636 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK traded down $1.41 during trading on Friday, hitting $528.86. The company’s stock had a trading volume of 866,981 shares, compared to its average volume of 626,262. The firm has a market cap of $69.50 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $544.81. The company has a 50-day moving average of $530.38 and a 200-day moving average of $492.60.

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

McKesson Dividend Announcement

The business also recently declared 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. This represents a $2.48 annualized dividend and a yield of 0.47%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is presently 11.24%.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent analyst reports. SVB Leerink initiated coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective for the company. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Argus lifted their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Citigroup boosted their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $536.71.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 186 shares of the 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 approximately $749,456. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

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.