McKesson Co. (NYSE:MCK) Stake Reduced by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in McKesson Co. (NYSE:MCK) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,905 shares of the company’s stock after selling 123 shares during the quarter. Los Angeles Capital Management LLC’s holdings in McKesson were worth $1,086,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Pinnacle Associates Ltd. grew its holdings in shares of McKesson by 11.6% during the third quarter. Pinnacle Associates Ltd. now owns 2,582 shares of the company’s stock valued at $1,196,000 after buying an additional 268 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of McKesson by 3.1% during the third quarter. Stephens Inc. AR now owns 1,505 shares of the company’s stock valued at $744,000 after buying an additional 45 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of McKesson by 17.0% during the third quarter. Chicago Partners Investment Group LLC now owns 682 shares of the company’s stock valued at $342,000 after buying an additional 99 shares in the last quarter. BluePath Capital Management LLC grew its holdings in shares of McKesson by 14.2% during the third quarter. BluePath Capital Management LLC now owns 1,379 shares of the company’s stock valued at $682,000 after buying an additional 171 shares in the last quarter. Finally, Pure Financial Advisors LLC grew its holdings in shares of McKesson by 3.2% during the third quarter. Pure Financial Advisors LLC now owns 767 shares of the company’s stock valued at $379,000 after buying an additional 24 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MCK has been the topic of a number of research reports. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Bank of America dropped their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company upped their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $645.79.

Insider Activity

In other 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 owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,268 shares of company stock valued at $11,536,378. 0.11% of the stock is owned by company insiders.

McKesson Trading Up 3.2 %

McKesson stock opened at $640.82 on Friday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $641.70. The company has a fifty day simple moving average of $594.13 and a 200 day simple moving average of $564.17. The company has a market cap of $80.31 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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 research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s payout ratio is 13.00%.

McKesson 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.