Lockheed Martin Investment Management Co. Lowers Stock Position in McKesson Corporation $MCK

Key Points

• Lockheed Martin Investment Management Co. cut its McKesson stake by 33.3% in the fourth quarter, selling 3,500 shares and ending with 7,000 shares valued at about $5.74 million.
• Analyst sentiment remains broadly positive: McKesson has a “Moderate Buy” consensus, with 14 Buy ratings and three Hold ratings, and a consensus price target of $968.87.
• McKesson recently beat quarterly EPS estimates, reporting $11.69 per share, and it also announced a quarterly dividend of $0.82 per share, payable July 1.

Lockheed Martin Investment Management Co. trimmed its position in McKesson Corporation (NYSE:MCK - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,000 shares of the company's stock after selling 3,500 shares during the period. Lockheed Martin Investment Management Co.'s holdings in McKesson were worth $5,742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB boosted its position in shares of McKesson by 42.2% in the 4th quarter. Swedbank AB now owns 886,283 shares of the company's stock worth $727,009,000 after buying an additional 263,189 shares in the last quarter. SurgoCap Partners LP raised its stake in McKesson by 68.7% in the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company's stock valued at $349,390,000 after purchasing an additional 184,106 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of McKesson by 73.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company's stock valued at $354,839,000 after acquiring an additional 183,590 shares during the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of McKesson during the 3rd quarter valued at about $135,352,000. Finally, Danske Bank A S acquired a new position in shares of McKesson during the 3rd quarter valued at about $127,487,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a research report on Tuesday. TD Cowen increased their target price on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a "buy" rating in a research report on Thursday, February 5th. William Blair initiated coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an "outperform" rating for the company. UBS Group upped their price target on McKesson from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their price target on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $968.87.

McKesson Stock Up 1.7%

NYSE MCK opened at $759.82 on Friday. The stock has a market cap of $91.33 billion, a PE ratio of 19.75, a P/E/G ratio of 1.11 and a beta of 0.35. The business has a 50 day moving average price of $854.83 and a two-hundred day moving average price of $857.22. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion during the quarter, compared to analysts' expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business's revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts anticipate that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson's dividend payout ratio is 8.53%.

Insider Activity

In other news, Director Maria Martinez sold 349 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total transaction of $328,014.63. Following the completion of the transaction, the director directly owned 301 shares in the company, valued at approximately $282,900.87. This represents a 53.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 190 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total value of $179,550.00. Following the transaction, the executive vice president owned 2,989 shares of the company's stock, valued at approximately $2,824,605. This trade represents a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,264 shares of company stock worth $3,205,315. 0.08% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.