McKesson Co. (NYSE:MCK) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lessened its position in shares of McKesson Co. (NYSE:MCK) by 14.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,718 shares of the company’s stock after selling 8,709 shares during the quarter. Martingale Asset Management L P’s holdings in McKesson were worth $26,065,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Isthmus Partners LLC purchased a new position in McKesson during the 3rd quarter worth approximately $504,000. Peterson Wealth Management purchased a new position in McKesson during the 3rd quarter worth approximately $938,000. Northwest & Ethical Investments L.P. grew its stake in McKesson by 9.1% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 37,120 shares of the company’s stock worth $18,353,000 after buying an additional 3,095 shares during the last quarter. Financial Counselors Inc. grew its stake in McKesson by 4.4% during the 3rd quarter. Financial Counselors Inc. now owns 916 shares of the company’s stock worth $453,000 after buying an additional 39 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in McKesson by 18.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,678 shares of the company’s stock worth $2,807,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Evercore ISI lifted their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Citigroup lifted their target price on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $631.57.

McKesson Stock Performance

Shares of MCK stock opened at $626.38 on Friday. The stock has a fifty day moving average price of $539.80 and a 200 day moving average price of $559.39. The stock has a market cap of $79.51 billion, a PE ratio of 32.44, a P/E/G ratio of 1.35 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.23 earnings per share. As a group, equities research analysts predict that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.45%. McKesson’s dividend payout ratio is presently 14.71%.

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.