Los Angeles Capital Management LLC Lowers Stake in McKesson Co. (NYSE:MCK)

Los Angeles Capital Management LLC lowered its holdings in McKesson Co. (NYSE:MCK) by 6.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,905 shares of the company’s stock after selling 123 shares during the period. Los Angeles Capital Management LLC’s holdings in McKesson were worth $1,086,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the 3rd quarter valued at $31,000. Synergy Asset Management LLC purchased a new position in shares of McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust acquired a new stake in McKesson during the 4th quarter worth $33,000. Finally, Creative Capital Management Investments LLC purchased a new stake in McKesson in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock valued at $11,536,378 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Trading Up 3.2 %

MCK stock opened at $640.82 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $641.70. The company has a market cap of $80.31 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock has a 50-day moving average price of $594.13 and a two-hundred day moving average price of $564.17.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Equities analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson’s dividend payout ratio is presently 13.00%.

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.