MTM Investment Management LLC Sells 901 Shares of McKesson Co. (NYSE:MCK)

MTM Investment Management LLC cut its stake in McKesson Co. (NYSE:MCK - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,162 shares of the company's stock after selling 901 shares during the period. McKesson comprises about 2.2% of MTM Investment Management LLC's investment portfolio, making the stock its 8th largest position. MTM Investment Management LLC's holdings in McKesson were worth $5,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the 4th quarter worth $32,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the third quarter valued at about $29,000. Crews Bank & Trust purchased a new stake in shares of McKesson during the fourth quarter valued at about $33,000. Wolff Wiese Magana LLC boosted its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after buying an additional 52 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

MCK has been the subject of several recent analyst reports. Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Morgan Stanley boosted their target price on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target for the company. Finally, Wells Fargo & Company boosted their price target on McKesson from $535.00 to $641.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $645.79.

McKesson Trading Down 1.4 %

NYSE MCK traded down $8.65 on Monday, hitting $593.82. 499,287 shares of the company's stock traded hands, compared to its average volume of 765,241. The firm's 50-day moving average price is $587.26 and its two-hundred day moving average price is $562.38. The firm has a market capitalization of $75.38 billion, a PE ratio of 27.19, a P/E/G ratio of 1.30 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly 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%. On average, research analysts anticipate that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio is currently 13.00%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 1,346 shares of company stock worth $795,275. Corporate insiders own 0.11% of the company's stock.

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.