McKesson Co. (NYSE:MCK) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 39.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,563 shares of the company's stock after selling 8,184 shares during the period. Quantbot Technologies LP's holdings in McKesson were worth $6,211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Distillate Capital Partners LLC increased its holdings in shares of McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock worth $20,874,000 after buying an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp increased its stake in McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock worth $5,247,000 after acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC raised its position in McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company's stock valued at $948,000 after purchasing an additional 133 shares during the period. Vaughan David Investments LLC IL purchased a new position in shares of McKesson in the 2nd quarter worth approximately $238,000. Finally, Newbridge Financial Services Group Inc. increased its position in shares of McKesson by 2,143.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company's stock valued at $851,000 after purchasing an additional 1,393 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Up 1.3 %

Shares of NYSE MCK traded up $8.27 during mid-day trading on Tuesday, reaching $625.00. 551,001 shares of the company were exchanged, compared to its average volume of 821,887. The firm has a 50-day moving average of $532.91 and a 200 day moving average of $557.99. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock has a market cap of $79.34 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 1.35 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. During the same period last year, the business earned $6.23 EPS. The company's revenue was up 21.3% compared to the same quarter last year. On average, equities analysts forecast that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MCK shares. Barclays lifted their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an "overweight" rating in a research note on Thursday, August 8th. Wells Fargo & Company cut their price target on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Citigroup raised their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Evercore ISI upped their target price on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price target on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $631.57.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the company's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company's stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.11% of the company's stock.

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.