Los Angeles Capital Management LLC Trims Holdings in McKesson Co. (NYSE:MCK)

Los Angeles Capital Management LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 81.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 696 shares of the company's stock after selling 3,046 shares during the period. Los Angeles Capital Management LLC's holdings in McKesson were worth $322,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its holdings in shares of McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company's stock valued at $2,238,953,000 after purchasing an additional 708,438 shares during the last quarter. Morgan Stanley increased its position in shares of McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company's stock valued at $1,042,937,000 after acquiring an additional 294,832 shares during the period. Northern Trust Corp boosted its holdings in shares of McKesson by 3.3% during the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company's stock worth $693,656,000 after purchasing an additional 50,265 shares during the period. Boston Partners grew its stake in shares of McKesson by 12.5% in the third quarter. Boston Partners now owns 1,198,429 shares of the company's stock worth $522,040,000 after purchasing an additional 133,351 shares during the last quarter. Finally, WCM Investment Management LLC increased its holdings in McKesson by 0.4% during the 4th quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company's stock valued at $500,134,000 after purchasing an additional 4,636 shares during the period. Institutional investors own 85.07% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com raised McKesson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 4th. Argus raised their price target on McKesson from $510.00 to $570.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. Mizuho raised their price target on McKesson from $450.00 to $505.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Citigroup raised their price target on McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Tuesday, April 30th. Finally, Leerink Partnrs reaffirmed an "outperform" rating on shares of McKesson in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and an average target price of $571.47.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company's stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

McKesson Trading Down 0.9 %

McKesson stock traded down $5.30 on Monday, hitting $554.61. 617,243 shares of the stock traded hands, compared to its average volume of 714,949. McKesson Co. has a 1 year low of $373.28 and a 1 year high of $566.01. The business's fifty day simple moving average is $532.92 and its 200 day simple moving average is $495.94. The firm has a market cap of $72.09 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 1.32 and a beta of 0.45.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter in the previous year, the business earned $7.19 earnings per share. McKesson's revenue was up 10.8% compared to the same quarter last year. As a group, analysts predict that McKesson Co. will post 31.55 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.45%. McKesson's payout ratio is presently 11.08%.

McKesson 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.