McKesson Co. (NYSE:MCK) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in McKesson Co. (NYSE:MCK) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,567 shares of the company’s stock after selling 937 shares during the period. Mutual of America Capital Management LLC’s holdings in McKesson were worth $10,012,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the third quarter valued at $31,000. Synergy Asset Management LLC purchased a new stake in McKesson during the fourth quarter valued at about $32,000. Crews Bank & Trust acquired a new stake in McKesson during the fourth quarter worth about $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in shares of McKesson in the 4th quarter worth about $44,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 3.2 %

Shares of MCK opened at $640.82 on Friday. The firm has a market cap of $80.31 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.29 and a beta of 0.52. The business’s 50 day moving average is $594.13 and its two-hundred day moving average is $564.17. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $641.70.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS 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, equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson 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 completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,268 shares of company stock valued at $11,536,378 in the last quarter. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MCK. Wells Fargo & Company increased their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

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.