MTM Investment Management LLC Sells 934 Shares of McKesson Co. (NYSE:MCK)

MTM Investment Management LLC decreased its position in shares of McKesson Co. (NYSE:MCK) by 7.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,063 shares of the company’s stock after selling 934 shares during the quarter. McKesson accounts for approximately 2.1% of MTM Investment Management LLC’s investment portfolio, making the stock its 10th largest holding. MTM Investment Management LLC’s holdings in McKesson were worth $5,370,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of McKesson during the 1st quarter valued at about $28,000. MidAtlantic Capital Management Inc. purchased a new position in McKesson during the third quarter valued at approximately $29,000. Wolff Wiese Magana LLC raised its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in McKesson in the third quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in McKesson in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

MCK stock opened at $615.47 on Wednesday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm has a market capitalization of $78.13 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44. The business has a 50 day simple moving average of $524.33 and a 200-day simple moving average of $555.78.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the business posted $6.23 EPS. On average, equities research analysts expect that McKesson Co. will post 32.81 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend 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 (DPR) is presently 14.71%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Citigroup upped their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Two 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $631.57.

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.