Stanley Laman Group Ltd. Sells 1,210 Shares of McKesson Co. (NYSE:MCK)

Stanley Laman Group Ltd. decreased its stake in McKesson Co. (NYSE:MCK - Free Report) by 12.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,426 shares of the company's stock after selling 1,210 shares during the period. Stanley Laman Group Ltd.'s holdings in McKesson were worth $4,802,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. Wolff Wiese Magana LLC grew its stake in 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 during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the third quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson during the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at $32,000. Finally, Crews Bank & Trust bought a new position in McKesson in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MCK shares. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company raised their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $645.79.

McKesson Stock Performance

Shares of McKesson stock traded down $8.65 during midday trading on Monday, reaching $593.82. 499,287 shares of the company's stock traded hands, compared to its average volume of 765,241. The company has a market cap of $75.38 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The stock has a 50 day moving average of $587.26 and a 200-day moving average of $562.38. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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, equities analysts anticipate that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 is Monday, March 3rd. McKesson's dividend payout ratio is currently 13.00%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 1,346 shares of company stock valued at $795,275 over the last quarter. Corporate insiders own 0.11% of the company's stock.

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.