Lockheed Martin Investment Management Co. reduced its position in shares of McKesson Corporation (NYSE:MCK – Free Report) by 33.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,000 shares of the company’s stock after selling 3,500 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in McKesson were worth $5,742,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in MCK. Swedbank AB raised its position in shares of McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after acquiring an additional 263,189 shares in the last quarter. SurgoCap Partners LP raised its position in shares of McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after acquiring an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of McKesson by 73.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after acquiring an additional 183,590 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of McKesson during the 3rd quarter valued at approximately $135,352,000. Finally, Danske Bank A S acquired a new stake in shares of McKesson during the 3rd quarter valued at approximately $127,487,000. 85.07% of the stock is owned by institutional investors and hedge funds.
McKesson Trading Up 1.7%
Shares of NYSE:MCK opened at $759.82 on Friday. The company has a 50 day moving average of $854.83 and a 200-day moving average of $857.22. The firm has a market cap of $91.33 billion, a P/E ratio of 19.75, a P/E/G ratio of 1.11 and a beta of 0.35. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.
McKesson Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s payout ratio is presently 8.53%.
Insiders Place Their Bets
In other McKesson news, EVP Leann B. Smith sold 190 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total transaction of $179,550.00. Following the completion of the sale, the executive vice president directly owned 2,989 shares of the company’s stock, valued at approximately $2,824,605. This represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maria Martinez sold 349 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the sale, the director directly owned 301 shares of the company’s stock, valued at $282,900.87. This represents a 53.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,264 shares of company stock worth $3,205,315. Company insiders own 0.08% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on MCK shares. Raymond James Financial set a $970.00 price target on McKesson in a research report on Thursday, March 5th. Leerink Partners reaffirmed an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. Mizuho increased their target price on McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. William Blair initiated coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Finally, TD Cowen raised their price target on McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $968.87.
Read Our Latest Stock Report on MCK
About McKesson
McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.
The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.
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