Mutual of America Capital Management LLC Has $10.85 Million Stock Holdings in McKesson Corporation (NYSE:MCK)

Mutual of America Capital Management LLC cut its stake in McKesson Corporation (NYSE:MCK - Free Report) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,122 shares of the company's stock after selling 1,445 shares during the quarter. Mutual of America Capital Management LLC's holdings in McKesson were worth $10,850,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MCK. Capital A Wealth Management LLC bought a new position in McKesson during the fourth quarter worth about $26,000. Millstone Evans Group LLC bought a new position in McKesson during the fourth quarter worth about $28,000. Graney & King LLC bought a new position in McKesson during the fourth quarter worth about $38,000. CoreFirst Bank & Trust bought a new position in McKesson during the fourth quarter worth about $67,000. Finally, Cornerstone Planning Group LLC increased its position in 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 acquiring an additional 92 shares during the period. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

Shares of MCK traded down $4.87 during mid-day trading on Thursday, reaching $710.87. The company had a trading volume of 402,202 shares, compared to its average volume of 920,974. The company's 50 day simple moving average is $716.12 and its 200 day simple moving average is $665.92. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89. The company has a market capitalization of $88.94 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 1.43 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same period last year, the company posted $6.18 EPS. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson's payout ratio is currently 10.99%.

Insider Buying and Selling at McKesson

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

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. Mizuho raised their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $810.00 price objective (up from $770.00) on shares of McKesson in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $710.17.

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.