McKesson Co. (NYSE:MCK) Shares Sold by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. lowered its holdings in McKesson Co. (NYSE:MCK) by 12.6% during the fourth quarter, Holdings Channel reports. The fund owned 8,426 shares of the company’s stock after selling 1,210 shares during the quarter. Stanley Laman Group Ltd.’s holdings in McKesson were worth $4,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCK. ORG Wealth Partners LLC acquired a new stake in shares of McKesson in the third quarter worth $40,000. CX Institutional increased its stake in shares of McKesson by 175.8% in the third quarter. CX Institutional now owns 10,228 shares of the company’s stock worth $5,057,000 after acquiring an additional 6,519 shares during the period. Creative Planning increased its stake in shares of McKesson by 2.1% in the third quarter. Creative Planning now owns 63,328 shares of the company’s stock worth $31,064,000 after acquiring an additional 1,316 shares during the period. QV Investors Inc. increased its stake in shares of McKesson by 0.6% in the third quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after acquiring an additional 20 shares during the period. Finally, Kapitalo Investimentos Ltda boosted its holdings in McKesson by 68.5% during the third quarter. Kapitalo Investimentos Ltda now owns 723 shares of the company’s stock worth $357,000 after buying an additional 294 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MCK shares. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Morgan Stanley increased their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Finally, Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, McKesson presently has an average rating of “Buy” and an average price target of $645.79.

McKesson Stock Down 2.5 %

MCK opened at $595.24 on Thursday. The firm’s fifty day simple moving average is $587.89 and its two-hundred day simple moving average is $562.68. The company has a market cap of $75.56 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.30 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results 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, research analysts forecast that McKesson Co. will post 32.69 EPS for the current year.

McKesson Dividend Announcement

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