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

Lockheed Martin Investment Management Co. boosted its stake in McKesson Corporation (NYSE:MCK) by 19.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,500 shares of the company’s stock after purchasing 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 also recently bought and sold shares of the business. Teacher Retirement System of Texas grew its holdings in shares of McKesson by 14.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 76,370 shares of the company’s stock worth $58,999,000 after acquiring an additional 9,888 shares during the period. ERn Financial LLC bought a new stake in McKesson in the 3rd quarter worth about $214,000. UNIVEST FINANCIAL Corp lifted its holdings in shares of McKesson by 62.8% during the 3rd quarter. UNIVEST FINANCIAL Corp now owns 609 shares of the company’s stock valued at $470,000 after buying an additional 235 shares during the period. Coign Capital Advisors LLC boosted its holdings in shares of McKesson by 8.2% in the third quarter. Coign Capital Advisors LLC now owns 1,013 shares of the company’s stock worth $783,000 after buying an additional 77 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in McKesson by 10.9% during the third quarter. Parkside Financial Bank & Trust now owns 725 shares of the company’s stock valued at $560,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the company’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 completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. This represents a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Down 0.7%

Shares of MCK opened at $817.27 on Friday. The stock’s 50-day moving average price is $831.48 and its 200-day moving average price is $769.17. The company has a market capitalization of $100.88 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.35 and a beta of 0.41. McKesson Corporation has a 52 week low of $570.51 and a 52 week high of $895.58.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $7.07 EPS. As a group, equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were paid a $0.82 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MCK shares. Evercore ISI reaffirmed an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a research note on Thursday, November 6th. JPMorgan Chase & Co. lifted their price target on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. UBS Group lifted their target price on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Finally, TD Cowen reiterated a “buy” rating on shares of McKesson in a research note on Monday, December 22nd. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $895.79.

McKesson Company Profile

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.