Catawba Capital Management VA Cuts Position in McKesson Co. (MCK)

Catawba Capital Management VA reduced its position in McKesson Co. (NYSE:MCK) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,275 shares of the company’s stock after selling 1,620 shares during the quarter. Catawba Capital Management VA’s holdings in McKesson were worth $4,098,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of McKesson by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 14,090,544 shares of the company’s stock worth $2,318,457,000 after buying an additional 62,004 shares during the period. Bank of New York Mellon Corp raised its position in McKesson by 6.5% in the third quarter. Bank of New York Mellon Corp now owns 2,540,305 shares of the company’s stock valued at $390,217,000 after purchasing an additional 154,967 shares during the period. Pzena Investment Management LLC raised its position in McKesson by 17.2% in the third quarter. Pzena Investment Management LLC now owns 2,458,531 shares of the company’s stock valued at $377,655,000 after purchasing an additional 360,676 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in McKesson by 0.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,785,700 shares of the company’s stock valued at $275,455,000 after purchasing an additional 5,000 shares during the period. Finally, Nordea Investment Management AB raised its position in McKesson by 0.7% in the third quarter. Nordea Investment Management AB now owns 1,379,609 shares of the company’s stock valued at $211,922,000 after purchasing an additional 9,281 shares during the period. 87.91% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on MCK shares. Cowen raised McKesson from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $176.00 to $189.00 in a research report on Tuesday, October 10th. Needham & Company LLC set a $179.00 price objective on McKesson and gave the company a “buy” rating in a research report on Monday, October 16th. Jefferies Group set a $165.00 price objective on McKesson and gave the company a “hold” rating in a research report on Wednesday, October 18th. Mizuho set a $168.00 price objective on McKesson and gave the company a “hold” rating in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $170.00 price objective on shares of McKesson in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $174.85.

In other news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $160.00, for a total transaction of $10,400,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Shares of McKesson Co. (NYSE MCK) traded down $1.05 during midday trading on Friday, hitting $171.78. The stock had a trading volume of 1,368,900 shares, compared to its average volume of 1,604,925. McKesson Co. has a twelve month low of $133.82 and a twelve month high of $173.84. The stock has a market capitalization of $35,520.00, a price-to-earnings ratio of 8.14, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.05.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, October 26th. The company reported $3.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.50. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The business had revenue of $52.06 billion for the quarter, compared to analyst estimates of $51.69 billion. During the same period in the previous year, the company earned $2.94 earnings per share. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. research analysts expect that McKesson Co. will post 12.26 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Thursday, November 30th. McKesson’s payout ratio is 6.44%.

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About McKesson

McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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