Qtron Investments LLC Raises Stock Position in McKesson Co. (NYSE:MCK)

Qtron Investments LLC raised its stake in McKesson Co. (NYSE:MCK - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,723 shares of the company's stock after acquiring an additional 383 shares during the quarter. Qtron Investments LLC's holdings in McKesson were worth $1,552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in McKesson in the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the fourth quarter worth about $32,000. Crews Bank & Trust acquired a new position in shares of McKesson in the fourth quarter worth about $33,000. Atala Financial Inc purchased a new stake in McKesson during the 4th quarter worth approximately $34,000. Finally, Graney & King LLC bought a new position in McKesson during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Down 0.2 %

Shares of MCK stock traded down $1.55 on Tuesday, reaching $692.43. The stock had a trading volume of 670,601 shares, compared to its average volume of 883,286. The firm's 50-day moving average is $644.47 and its two-hundred day moving average is $595.30. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32. The firm has a market capitalization of $86.78 billion, a price-to-earnings ratio of 31.70, a P/E/G ratio of 1.29 and a beta of 0.49.

Remove Ads

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. McKesson's payout ratio is 13.00%.

Wall Street Analyst Weigh In

MCK has been the topic of several research analyst reports. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Bank of America lifted their target price on shares of McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $668.50.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 in the last quarter. Corporate insiders own 0.11% of the company's stock.

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.