Lockheed Martin Investment Management Co. Acquires 1,700 Shares of McKesson Corporation $MCK

Lockheed Martin Investment Management Co. raised its holdings in shares of McKesson Corporation (NYSE:MCK) by 19.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,500 shares of the company’s stock after buying an additional 1,700 shares during the period. Lockheed Martin Investment Management Co.’s holdings in McKesson were worth $8,112,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new stake in McKesson during the second quarter valued at about $1,346,661,000. Alliancebernstein L.P. grew its stake in McKesson by 150.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after acquiring an additional 1,362,386 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in McKesson by 56.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock valued at $906,109,000 after purchasing an additional 446,060 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of McKesson by 45.6% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock worth $610,977,000 after acquiring an additional 261,296 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of McKesson by 68.0% during the 2nd quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock worth $466,441,000 after purchasing an additional 257,670 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MCK shares. Evercore ISI restated an “outperform” rating and issued a $1,000.00 price objective on shares of McKesson in a report on Thursday, November 6th. JPMorgan Chase & Co. lifted their price target on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a research report on Monday, December 29th. Robert W. Baird set a $968.00 price objective on shares of McKesson in a research report on Wednesday, January 14th. Finally, Zacks Research lowered McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $895.79.

McKesson Trading Down 0.7%

Shares of NYSE MCK opened at $817.27 on Friday. The company has a market cap of $100.88 billion, a PE ratio of 25.44, a P/E/G ratio of 1.35 and a beta of 0.41. The company has a 50-day moving average of $831.48 and a two-hundred day moving average of $769.17. McKesson Corporation has a 1-year low of $570.51 and a 1-year high of $895.58.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter in the prior year, the company earned $7.07 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s payout ratio is 10.21%.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at $1,851,096.24. The trade was a 10.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.08% of the company’s stock.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.