Lockheed Martin Investment Management Co. Has $6.45 Million Stock Position in McKesson Corporation $MCK

Lockheed Martin Investment Management Co. cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 27.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,800 shares of the company’s stock after selling 3,300 shares during the period. Lockheed Martin Investment Management Co.’s holdings in McKesson were worth $6,448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MCK. Brighton Jones LLC lifted its position in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the period. Mather Group LLC. lifted its position in McKesson by 13.1% during the 1st quarter. Mather Group LLC. now owns 975 shares of the company’s stock valued at $656,000 after purchasing an additional 113 shares during the period. DAVENPORT & Co LLC lifted its position in McKesson by 237.6% during the 1st quarter. DAVENPORT & Co LLC now owns 7,249 shares of the company’s stock valued at $4,879,000 after purchasing an additional 5,102 shares during the period. Rossby Financial LCC acquired a new position in McKesson during the 1st quarter valued at about $108,000. Finally, Keybank National Association OH increased its holdings in McKesson by 3.0% in the first quarter. Keybank National Association OH now owns 3,936 shares of the company’s stock valued at $2,649,000 after purchasing an additional 113 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of MCK stock opened at $826.40 on Friday. The company has a market capitalization of $102.79 billion, a P/E ratio of 32.95, a price-to-earnings-growth ratio of 1.46 and a beta of 0.52. The company’s 50 day moving average price is $738.91 and its two-hundred day moving average price is $717.98. McKesson Corporation has a 52 week low of $498.32 and a 52 week high of $846.32.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the business posted $7.88 earnings per share. Analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is 13.08%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 24,189 shares of company stock worth $16,722,190 over the last quarter. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Mizuho upped their price objective on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. UBS Group increased their price target on shares of McKesson from $860.00 to $920.00 and gave the company a “buy” rating in a research report on Monday. TD Cowen increased their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Bank of America increased their price target on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $839.15.

About McKesson

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.