Mount Lucas Management LP Cuts Position in McKesson Co. (NYSE:MCK)

Mount Lucas Management LP trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,281 shares of the company’s stock after selling 120 shares during the quarter. Mount Lucas Management LP’s holdings in McKesson were worth $1,300,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MCK. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the third quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC purchased a new position in McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust bought a new position in McKesson during the fourth quarter valued at $33,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson during the fourth quarter valued at $44,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.5 %

NYSE:MCK opened at $644.92 on Monday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $653.92. The stock has a market cap of $80.82 billion, a P/E ratio of 29.53, a PEG ratio of 1.29 and a beta of 0.52. The business’s 50-day moving average price is $600.67 and its two-hundred day moving average price is $567.55.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. McKesson’s payout ratio is 13.00%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 over the last quarter. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MCK. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Bank of America dropped 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. Evercore ISI lifted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Citigroup dropped their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $645.79.

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.