Townsquare Capital LLC Sells 46 Shares of McKesson Co. (NYSE:MCK)

Townsquare Capital LLC lowered its stake in McKesson Co. (NYSE:MCK) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,644 shares of the company’s stock after selling 46 shares during the quarter. Townsquare Capital LLC’s holdings in McKesson were worth $2,077,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in McKesson during the 4th quarter valued at approximately $1,200,361,000. Proficio Capital Partners LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $178,397,000. Alliancebernstein L.P. lifted its stake in McKesson by 46.6% in the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock worth $487,462,000 after acquiring an additional 272,068 shares during the period. Raymond James Financial Inc. purchased a new stake in McKesson in the fourth quarter worth $128,125,000. Finally, Boston Partners boosted its holdings in McKesson by 24.6% in the fourth quarter. Boston Partners now owns 1,096,301 shares of the company’s stock valued at $625,501,000 after acquiring an additional 216,432 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley lifted their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Mizuho raised their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Finally, Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $668.50.

McKesson Stock Down 0.0 %

Shares of MCK opened at $692.54 on Thursday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The firm has a 50 day moving average of $648.28 and a 200 day moving average of $596.64. The company has a market capitalization of $86.79 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock worth $10,855,706 over the last quarter. 0.11% of the stock is currently owned by corporate insiders.

McKesson Company 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.