Mutual of America Capital Management LLC Sells 1,890 Shares of McKesson Co. (NYSE:MCK)

Mutual of America Capital Management LLC lowered its stake in McKesson Co. (NYSE:MCK - Free Report) by 9.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCK. Swedbank AB bought a new stake in shares of McKesson during the first quarter worth about $669,326,000. International Assets Investment Management LLC grew its holdings in McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock worth $398,937,000 after acquiring an additional 734,849 shares during the last quarter. Bessemer Group Inc. increased its position in McKesson by 3,621.7% in the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company's stock valued at $187,572,000 after acquiring an additional 340,007 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of McKesson by 581.0% during the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company's stock valued at $74,776,000 after acquiring an additional 129,031 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of McKesson by 134.6% during the second quarter. American Century Companies Inc. now owns 220,619 shares of the company's stock worth $128,850,000 after purchasing an additional 126,567 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft cut their price objective on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Finally, Citigroup upped their price target on shares of McKesson from $630.00 to $713.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and a consensus price target of $631.57.

Insider Buying and Selling at McKesson

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

McKesson Stock Up 1.5 %

McKesson stock traded up $9.32 during mid-day trading on Monday, reaching $615.61. 628,252 shares of the company's stock were exchanged, compared to its average volume of 823,903. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The business's fifty day simple moving average is $520.01 and its 200 day simple moving average is $554.57. The firm has a market capitalization of $78.15 billion, a PE ratio of 31.33, a P/E/G ratio of 1.31 and a beta of 0.44.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. McKesson's dividend payout ratio is 14.71%.

McKesson Company 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.