Mutual of America Capital Management LLC Sells 1,890 Shares of McKesson Co. (NYSE:MCK)

Mutual of America Capital Management LLC decreased its holdings in McKesson Co. (NYSE:MCK) by 9.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,504 shares of the company’s stock after selling 1,890 shares during the period. Mutual of America Capital Management LLC’s holdings in McKesson were worth $9,149,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of MCK. RFP Financial Group LLC lifted its position in shares of McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after acquiring an additional 17 shares in the last quarter. Modera Wealth Management LLC boosted its stake in McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after buying an additional 17 shares in the last quarter. First Western Trust Bank raised its position in shares of McKesson by 2.0% in the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after buying an additional 18 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich boosted its position in McKesson by 0.4% during the second quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock worth $2,935,000 after acquiring an additional 19 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.6 %

NYSE:MCK opened at $606.29 on Monday. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The stock’s fifty day moving average is $520.01 and its two-hundred day moving average is $554.57. The stock has a market capitalization of $76.96 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the business posted $6.23 EPS. On average, sell-side analysts expect that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MCK shares. Mizuho increased their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Citigroup boosted their price objective on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Leerink Partners cut their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Evercore ISI raised their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

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.