LSV Asset Management Cuts Stake in McKesson Co. (NYSE:MCK)

LSV Asset Management cut its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 28.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 344,080 shares of the company's stock after selling 134,580 shares during the quarter. LSV Asset Management owned approximately 0.27% of McKesson worth $196,095,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Frank Rimerman Advisors LLC lifted its holdings in McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after acquiring an additional 17 shares during the period. Old North State Trust LLC raised its stake in shares of McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock worth $563,000 after purchasing an additional 18 shares during the period. Trust Co. of Vermont boosted its holdings in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after buying an additional 18 shares during the last quarter. Hemington Wealth Management grew its position in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after buying an additional 18 shares during the period. Finally, First Western Trust Bank increased its holdings in McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after buying an additional 18 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

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Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares of the company's stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, 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. Insiders sold a total of 18,110 shares of company stock worth $10,855,706 over the last quarter. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MCK has been the topic of a number of research reports. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Morgan Stanley raised their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Finally, Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Three 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $668.50.

McKesson Trading Down 0.3 %

Shares of MCK traded down $1.76 during trading hours on Tuesday, reaching $692.22. 291,880 shares of the company's stock traded hands, compared to its average volume of 879,805. The firm's 50 day simple moving average is $644.47 and its 200-day simple moving average is $595.30. The stock has a market cap of $86.75 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. McKesson's dividend payout ratio (DPR) is presently 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.