LSV Asset Management Sells 134,580 Shares of McKesson Co. (NYSE:MCK)

LSV Asset Management reduced its position in McKesson Co. (NYSE:MCK) by 28.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 344,080 shares of the company’s stock after selling 134,580 shares during the period. LSV Asset Management’s holdings in McKesson were worth $196,095,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MCK. Millstone Evans Group LLC purchased a new stake in shares of McKesson during the fourth quarter worth about $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $32,000. Crews Bank & Trust acquired a new position in McKesson in the 4th quarter valued at $33,000. Atala Financial Inc acquired a new position in McKesson in the 4th quarter valued at $34,000. Finally, Graney & King LLC purchased a new stake in McKesson in the 4th quarter valued at $38,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of NYSE MCK opened at $672.58 on Thursday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $739.08. The firm has a market capitalization of $84.29 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The stock’s 50-day simple moving average is $639.40 and its 200-day simple moving average is $590.22.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.42%. McKesson’s dividend payout ratio is presently 13.00%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock worth $10,855,706 in the last quarter. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Morgan Stanley increased their target price on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $661.00.

About McKesson

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.