McKesson Co. (NYSE:MCK) Shares Sold by Mount Lucas Management LP

Mount Lucas Management LP decreased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 45.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,401 shares of the company's stock after selling 1,982 shares during the period. Mount Lucas Management LP's holdings in McKesson were worth $1,187,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MCK shares. Mizuho upped their price objective on McKesson from $540.00 to $570.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Finally, Evercore ISI boosted their price objective on McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Two investment 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 company. According to data from MarketBeat, the company currently 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 business's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company's stock, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.11% of the company's stock.

McKesson Stock Performance

McKesson stock traded down $3.87 during trading hours on Friday, hitting $606.29. The company had a trading volume of 1,008,159 shares, compared to its average volume of 988,860. The firm has a market cap of $76.96 billion, a P/E ratio of 31.40, a P/E/G ratio of 1.31 and a beta of 0.44. The company has a 50-day moving average price of $520.01 and a two-hundred day moving average price of $554.41. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 earnings per share. McKesson's revenue was up 21.3% compared to the same quarter last year. As a group, equities research analysts anticipate that McKesson Co. will post 32.81 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson's dividend payout ratio is currently 14.71%.

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.