Jacobi Capital Management LLC Trims Stock Holdings in McKesson Co. (NYSE:MCK)

Jacobi Capital Management LLC decreased its position in McKesson Co. (NYSE:MCK) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,216 shares of the company’s stock after selling 172 shares during the period. Jacobi Capital Management LLC’s holdings in McKesson were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares during the last quarter. FMR LLC raised its stake in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the last quarter. Geode Capital Management LLC raised its stake in McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after acquiring an additional 26,299 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after acquiring an additional 162,688 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 3.2 %

NYSE:MCK opened at $640.82 on Friday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $641.70. The stock has a market capitalization of $80.31 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock’s 50-day moving average price is $594.13 and its 200-day moving average price is $564.17.

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

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,268 shares of company stock worth $11,536,378. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MCK shares. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

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.