Lockheed Martin Investment Management Co. Has $6.45 Million Stake in McKesson Corporation $MCK

Lockheed Martin Investment Management Co. trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 27.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 8,800 shares of the company’s stock after selling 3,300 shares during the period. Lockheed Martin Investment Management Co.’s holdings in McKesson were worth $6,448,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Kovack Advisors Inc. acquired a new position in McKesson during the second quarter worth $216,000. Earned Wealth Advisors LLC increased its holdings in McKesson by 8.4% during the second quarter. Earned Wealth Advisors LLC now owns 542 shares of the company’s stock worth $398,000 after buying an additional 42 shares during the last quarter. IFG Advisory LLC increased its holdings in McKesson by 2.1% during the second quarter. IFG Advisory LLC now owns 1,903 shares of the company’s stock worth $1,394,000 after buying an additional 40 shares during the last quarter. UNIVEST FINANCIAL Corp acquired a new position in McKesson during the second quarter worth $274,000. Finally, Simon Quick Advisors LLC increased its holdings in McKesson by 28.7% during the second quarter. Simon Quick Advisors LLC now owns 1,331 shares of the company’s stock worth $975,000 after buying an additional 297 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCK. Mizuho boosted their target price on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Evercore ISI lifted their price objective on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. TD Cowen lifted their price objective on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company lifted their price objective on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $839.15.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of McKesson stock opened at $826.40 on Friday. The firm has a 50-day moving average of $738.91 and a 200-day moving average of $717.98. The stock has a market cap of $102.79 billion, a PE ratio of 32.95, a PEG ratio of 1.46 and a beta of 0.52. McKesson Corporation has a 52-week low of $498.32 and a 52-week high of $846.32.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.88 EPS. Equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s payout ratio is presently 13.08%.

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.