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

Mutual of America Capital Management LLC lowered its position in shares of McKesson Co. (NYSE:MCK) by 9.3% in the third quarter, HoldingsChannel.com reports. The firm owned 18,504 shares of the company’s stock after selling 1,890 shares during the quarter. Mutual of America Capital Management LLC’s holdings in McKesson were worth $9,149,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Kinsale Capital Group Inc. boosted its position in shares of McKesson by 15.1% during the 3rd quarter. Kinsale Capital Group Inc. now owns 10,717 shares of the company’s stock worth $5,299,000 after acquiring an additional 1,407 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in McKesson by 730.0% during the third quarter. Mizuho Securities USA LLC now owns 83,170 shares of the company’s stock worth $41,121,000 after purchasing an additional 73,149 shares during the last quarter. Birchcreek Wealth Management LLC boosted its holdings in McKesson by 11.1% in the third quarter. Birchcreek Wealth Management LLC now owns 490 shares of the company’s stock valued at $242,000 after purchasing an additional 49 shares in the last quarter. Empowered Funds LLC increased its stake in McKesson by 166.7% in the third quarter. Empowered Funds LLC now owns 35,745 shares of the company’s stock valued at $17,673,000 after purchasing an additional 22,342 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in McKesson by 1.6% during the third quarter. Empirical Finance LLC now owns 4,778 shares of the company’s stock worth $2,362,000 after purchasing an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Mizuho increased their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company cut their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Citigroup lifted their price target on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $606.29 on Monday. The stock has a fifty day moving average price of $520.01 and a 200 day moving average price of $554.57. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The company has a market cap of $76.96 billion, a PE ratio of 31.40, a P/E/G ratio of 1.31 and a beta of 0.44.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the business earned $6.23 EPS. The business’s revenue was up 21.3% on a year-over-year basis. Analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

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.