McKesson Co. (NYSE:MCK) Stock Holdings Decreased by Martingale Asset Management L P

Martingale Asset Management L P trimmed its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 34.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,331 shares of the company's stock after selling 18,387 shares during the quarter. Martingale Asset Management L P's holdings in McKesson were worth $19,566,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Frank Rimerman Advisors LLC increased its position in shares of McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after purchasing an additional 17 shares during the last quarter. Old North State Trust LLC increased its holdings in McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after buying an additional 18 shares during the last quarter. Trust Co. of Vermont lifted its holdings in McKesson by 4.8% during 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 boosted its position in shares of McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after acquiring an additional 18 shares in the last quarter. Finally, First Western Trust Bank increased its holdings in shares of McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock valued at $531,000 after acquiring an additional 18 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

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McKesson Trading Down 0.1 %

Shares of MCK stock traded down $0.57 during mid-day trading on Monday, reaching $688.79. The stock had a trading volume of 289,870 shares, compared to its average volume of 878,771. The business has a 50-day simple moving average of $642.70 and a 200 day simple moving average of $593.86. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.32. The company has a market cap of $86.32 billion, a P/E ratio of 31.54, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) 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%. Research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. McKesson's dividend payout ratio is presently 13.00%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the firm'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 transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MCK. Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company upped their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Three 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $668.50.

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.