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

TCW Group Inc. lowered its stake in McKesson Co. (NYSE:MCK - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,179 shares of the company's stock after selling 6,550 shares during the quarter. TCW Group Inc. owned about 0.13% of McKesson worth $80,185,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. RFP Financial Group LLC increased its position in McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company's stock worth $112,000 after purchasing an additional 17 shares during the last quarter. Modera Wealth Management LLC raised its position in shares of McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock valued at $470,000 after buying an additional 17 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $639,000 after acquiring an additional 17 shares during the last quarter. Lester Murray Antman dba SimplyRich grew its position in McKesson by 0.4% in the second quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company's stock worth $2,935,000 after acquiring an additional 19 shares in the last quarter. Finally, Black Diamond Financial LLC increased its stake in McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock worth $754,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Down 1.3 %

NYSE:MCK traded down $7.56 during mid-day trading on Wednesday, reaching $576.40. The company's stock had a trading volume of 1,093,719 shares, compared to its average volume of 818,423. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock has a fifty day moving average of $558.49 and a 200-day moving average of $562.32. The firm has a market capitalization of $73.17 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company's quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm earned $6.23 earnings per share. On average, analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. McKesson's dividend payout ratio is presently 14.71%.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares of the company's stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Citigroup boosted their price objective on shares of McKesson from $630.00 to $713.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Finally, Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $635.86.

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.