McKesson Co. (NYSE:MCK) Position Lessened by Leuthold Group LLC

Leuthold Group LLC lowered its stake in shares of McKesson Co. (NYSE:MCK) by 0.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,068 shares of the company’s stock after selling 37 shares during the quarter. McKesson makes up approximately 1.1% of Leuthold Group LLC’s holdings, making the stock its 22nd largest position. Leuthold Group LLC’s holdings in McKesson were worth $9,700,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of McKesson in the 4th quarter worth about $1,024,140,000. International Assets Investment Management LLC raised its holdings in shares of McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after buying an additional 749,504 shares during the last quarter. TD Asset Management Inc boosted its position in shares of McKesson by 202.8% during the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock worth $278,778,000 after buying an additional 403,312 shares during the period. Assenagon Asset Management S.A. grew its holdings in McKesson by 5,683.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock worth $104,178,000 after buying an additional 221,125 shares in the last quarter. Finally, Third Point LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $76,392,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of NYSE:MCK traded up $6.32 during mid-day trading on Friday, hitting $581.55. The stock had a trading volume of 229,914 shares, compared to its average volume of 699,958. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $612.17. The company has a market cap of $75.57 billion, a PE ratio of 25.99, a P/E/G ratio of 1.37 and a beta of 0.45. The company’s 50 day moving average is $574.91 and its 200-day moving average is $533.02.

McKesson (NYSE:MCK) last issued its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same period last year, the business earned $7.19 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts predict that McKesson Co. will post 31.53 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.62 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s dividend payout ratio is 11.08%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Argus increased their price target on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Robert W. Baird raised their target price on shares of McKesson from $679.00 to $694.00 and gave the company an “outperform” rating in a research note on Tuesday. Citigroup upped their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Finally, UBS Group upped their target price on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average price target of $596.00.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 789 shares of McKesson stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the completion of the sale, the executive vice president now owns 7,909 shares of the company’s stock, valued at approximately $4,408,476.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Thomas L. Rodgers sold 789 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $439,788.60. Following the transaction, the executive vice president now owns 7,909 shares in the company, valued at $4,408,476.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas L. Rodgers sold 5,232 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $560.99, for a total transaction of $2,935,099.68. Following the transaction, the executive vice president now owns 2,544 shares in the company, valued at approximately $1,427,158.56. The disclosure for this sale can be found here. Insiders sold 29,567 shares of company stock valued at $16,691,841 over the last three months. 0.11% of the stock is owned by corporate insiders.

McKesson Company 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.