Lockheed Martin Investment Management Co. Buys Shares of 12,100 McKesson Corporation (NYSE:MCK)

Lockheed Martin Investment Management Co. bought a new stake in McKesson Corporation (NYSE:MCK) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,100 shares of the company’s stock, valued at approximately $8,143,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in shares of McKesson during the fourth quarter worth about $26,000. Bank of Jackson Hole Trust boosted its position in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares during the period. CBIZ Investment Advisory Services LLC boosted its position in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after buying an additional 41 shares during the period. Pandora Wealth Inc. acquired a new position in shares of McKesson during the first quarter worth about $40,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of McKesson by 1,840.0% during the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the company’s stock worth $67,000 after buying an additional 92 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. UBS Group upped their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Thursday. Wall Street Zen cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company set a $766.00 target price on McKesson and gave the stock an “equal weight” rating in a report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $718.73.

McKesson Stock Up 0.6%

NYSE:MCK opened at $667.14 on Friday. The stock’s 50 day moving average price is $714.12 and its two-hundred day moving average price is $679.75. The firm has a market capitalization of $82.98 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 1.35 and a beta of 0.50. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). The business had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.88 EPS. Equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. McKesson’s dividend payout ratio is currently 10.99%.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the sale, the executive vice president owned 2,544 shares in the company, valued at $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Britt J. Vitalone sold 1,878 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $1,348,234.98. Following the transaction, the chief financial officer owned 14,028 shares in the company, valued at approximately $10,070,841.48. This trade represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,488 shares of company stock valued at $37,242,862. Company insiders own 0.08% 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.