McKesson Co. (NYSE:MCK) Shares Sold by MTM Investment Management LLC

MTM Investment Management LLC trimmed its holdings in McKesson Co. (NYSE:MCK) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,162 shares of the company’s stock after selling 901 shares during the period. McKesson comprises about 2.2% of MTM Investment Management LLC’s investment portfolio, making the stock its 8th largest holding. MTM Investment Management LLC’s holdings in McKesson were worth $5,791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. ORG Wealth Partners LLC acquired a new position in McKesson in the third quarter valued at about $40,000. CX Institutional boosted its position in shares of McKesson by 175.8% during the third quarter. CX Institutional now owns 10,228 shares of the company’s stock worth $5,057,000 after buying an additional 6,519 shares during the period. Creative Planning raised its holdings in McKesson by 2.1% during the third quarter. Creative Planning now owns 63,328 shares of the company’s stock worth $31,064,000 after acquiring an additional 1,316 shares in the last quarter. QV Investors Inc. raised its holdings in McKesson by 0.6% during the third quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after acquiring an additional 20 shares in the last quarter. Finally, Kapitalo Investimentos Ltda raised its holdings in McKesson by 68.5% during the third quarter. Kapitalo Investimentos Ltda now owns 723 shares of the company’s stock worth $357,000 after acquiring an additional 294 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Down 2.5 %

Shares of MCK opened at $595.24 on Thursday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The business has a 50-day simple moving average of $587.89 and a two-hundred day simple moving average of $562.68. The stock has a market cap of $75.56 billion, a PE ratio of 27.25, a PEG ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS 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, equities research analysts expect that McKesson Co. will post 32.69 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MCK. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 6th. Evercore ISI upped their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley upped their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “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.