MTM Investment Management LLC reduced its position in shares of McKesson Co. (NYSE:MCK – Get Rating) by 1.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,099 shares of the company’s stock after selling 194 shares during the period. McKesson comprises about 1.4% of MTM Investment Management LLC’s investment portfolio, making the stock its 14th biggest position. MTM Investment Management LLC’s holdings in McKesson were worth $3,007,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Center for Financial Planning Inc. grew its holdings in shares of McKesson by 4.9% in the 3rd quarter. Center for Financial Planning Inc. now owns 4,777 shares of the company’s stock valued at $952,000 after buying an additional 222 shares during the period. Raymond James & Associates grew its stake in McKesson by 9.7% in the 3rd quarter. Raymond James & Associates now owns 143,700 shares of the company’s stock valued at $28,651,000 after buying an additional 12,731 shares during the last quarter. Dupont Capital Management Corp grew its stake in McKesson by 2.3% in the 3rd quarter. Dupont Capital Management Corp now owns 17,581 shares of the company’s stock valued at $3,505,000 after buying an additional 393 shares during the last quarter. Van ECK Associates Corp grew its position in shares of McKesson by 22.3% during the 3rd quarter. Van ECK Associates Corp now owns 101,546 shares of the company’s stock worth $20,246,000 after purchasing an additional 18,540 shares in the last quarter. Finally, Wade G W & Inc. grew its position in shares of McKesson by 19.0% during the 3rd quarter. Wade G W & Inc. now owns 1,557 shares of the company’s stock worth $310,000 after purchasing an additional 249 shares in the last quarter. 86.01% of the stock is owned by hedge funds and other institutional investors.
MCK has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of McKesson from a “buy” rating to a “hold” rating and upped their price target for the stock from $262.00 to $270.00 in a report on Friday, February 4th. They noted that the move was a valuation call. StockNews.com assumed coverage on shares of McKesson in a research note on Thursday, March 31st. They set a “strong-buy” rating for the company. Cowen increased their price objective on shares of McKesson from $325.00 to $361.00 and gave the stock an “outperform” rating in a research report on Monday, April 18th. Mizuho raised their price target on shares of McKesson from $250.00 to $280.00 and gave the stock a “neutral” rating in a report on Monday, February 7th. Finally, UBS Group raised their price objective on shares of McKesson from $245.00 to $303.00 and gave the company a “buy” rating in a research note on Tuesday, February 8th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $300.71.
McKesson (NYSE:MCK – Get Rating) last posted its quarterly earnings results on Wednesday, February 2nd. The company reported $6.15 EPS for the quarter, beating the Zacks’ consensus estimate of $5.38 by $0.77. The company had revenue of $68.61 billion during the quarter, compared to analyst estimates of $66.63 billion. McKesson had a net margin of 0.55% and a negative return on equity of 1,931.18%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.60 EPS. As a group, sell-side analysts forecast that McKesson Co. will post 23.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 1st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.59%. McKesson’s payout ratio is currently 21.15%.
In other McKesson news, CEO Brian S. Tyler sold 5,438 shares of the business’s stock in a transaction on Monday, April 18th. The shares were sold at an average price of $323.25, for a total transaction of $1,757,833.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nancy Flores sold 3,298 shares of the company’s stock in a transaction dated Thursday, April 7th. The stock was sold at an average price of $311.09, for a total transaction of $1,025,974.82. Following the completion of the sale, the executive vice president now directly owns 5,440 shares in the company, valued at $1,692,329.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,795 shares of company stock worth $3,329,690. Insiders own 0.28% of the company’s stock.
McKesson Company Profile (Get Rating)
McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).
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