WCM Investment Management LLC Decreases Position in McKesson Corporation $MCK

WCM Investment Management LLC trimmed its holdings in McKesson Corporation (NYSE:MCK) by 1.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 966,131 shares of the company’s stock after selling 12,202 shares during the quarter. McKesson comprises approximately 1.5% of WCM Investment Management LLC’s portfolio, making the stock its 23rd biggest position. WCM Investment Management LLC owned approximately 0.78% of McKesson worth $736,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of McKesson in the 1st quarter valued at about $233,000. Sivia Capital Partners LLC boosted its position in shares of McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares during the period. Simplicity Wealth LLC purchased a new position in McKesson during the 2nd quarter worth approximately $459,000. Finally, Grimes & Company Inc. increased its position in McKesson by 19.7% during the second quarter. Grimes & Company Inc. now owns 728 shares of the company’s stock worth $533,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In related news, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total value of $225,265.68. Following the completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The SEC filing for this sale provides additional information. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MCK shares. Evercore ISI reaffirmed an “outperform” rating and issued a $1,000.00 target price on shares of McKesson in a report on Thursday, November 6th. UBS Group upped their target price on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Robert W. Baird set a $968.00 price objective on McKesson in a research note on Wednesday, January 14th. Finally, Barclays began coverage on shares of McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $899.36.

McKesson Price Performance

Shares of NYSE MCK opened at $846.30 on Tuesday. The firm’s 50-day moving average is $827.63 and its two-hundred day moving average is $775.37. The company has a market capitalization of $104.46 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40. McKesson Corporation has a 12-month low of $570.51 and a 12-month high of $895.58.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $7.07 EPS. On average, analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $0.82 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is 10.21%.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.