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

Martingale Asset Management L P reduced its holdings in McKesson Co. (NYSE:MCK) by 14.2% in the 3rd quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Isthmus Partners LLC acquired a new position in McKesson in the third quarter valued at $504,000. Peterson Wealth Management acquired a new position in McKesson in the third quarter valued at $938,000. Northwest & Ethical Investments L.P. increased its stake in McKesson by 9.1% in the third quarter. Northwest & Ethical Investments L.P. now owns 37,120 shares of the company’s stock valued at $18,353,000 after purchasing an additional 3,095 shares during the last quarter. Financial Counselors Inc. increased its stake in McKesson by 4.4% in the third quarter. Financial Counselors Inc. now owns 916 shares of the company’s stock valued at $453,000 after purchasing an additional 39 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in McKesson by 18.8% in the third quarter. Public Sector Pension Investment Board now owns 5,678 shares of the company’s stock valued at $2,807,000 after purchasing an additional 900 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 opened at $626.38 on Friday. The company has a market capitalization of $79.51 billion, a P/E ratio of 32.44, a P/E/G ratio of 1.35 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock has a 50-day moving average price of $539.80 and a 200 day moving average price of $559.39.

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

McKesson Announces Dividend

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

Analyst Ratings Changes

MCK has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Citigroup boosted their price target on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company lowered their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by insiders.

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.