Lingohr Asset Management GmbH Makes New $224,000 Investment in McKesson Co. (NYSE:MCK)

Lingohr Asset Management GmbH purchased a new stake in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, Holdings Channel.com reports. The firm purchased 392 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds have also made changes to their positions in the company. Cibc World Market Inc. lifted its holdings in shares of McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after purchasing an additional 1,207 shares in the last quarter. Commerce Bank lifted its stake in McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after acquiring an additional 3,020 shares in the last quarter. West Oak Capital LLC boosted its position in McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after acquiring an additional 2,690 shares during the period. Brentview Investment Management LLC purchased a new position in McKesson during the 4th quarter valued at about $3,018,000. Finally, Ingalls & Snyder LLC increased its holdings in shares of McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after purchasing an additional 1,047 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 in the last three months. Company insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.4 %

NYSE:MCK opened at $664.09 on Thursday. The company’s 50 day moving average is $613.05 and its 200-day moving average is $573.00. The firm has a market cap of $83.23 billion, a price-to-earnings ratio of 30.41, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $666.99.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Research analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $649.36.

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.