Leuthold Group LLC Cuts Stake in McKesson Co. (NYSE:MCK)

Leuthold Group LLC cut its position in McKesson Co. (NYSE:MCK) by 3.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,819 shares of the company’s stock after selling 611 shares during the quarter. McKesson accounts for approximately 1.2% of Leuthold Group LLC’s investment portfolio, making the stock its 18th biggest holding. Leuthold Group LLC’s holdings in McKesson were worth $9,585,000 as of its most recent SEC filing.

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

McKesson Stock Performance

NYSE MCK opened at $597.68 on Friday. The business’s fifty day moving average is $589.02 and its 200 day moving average is $562.38. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company has a market capitalization of $74.91 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,307 shares of company stock worth $6,177,790 in the last three months. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on MCK shares. Bank of America decreased their target price on 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 objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $645.79.

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.