Quest Partners LLC Has $946,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Quest Partners LLC reduced its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 56.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,913 shares of the company's stock after selling 2,493 shares during the quarter. Quest Partners LLC's holdings in McKesson were worth $946,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in McKesson in the 1st quarter valued at approximately $669,326,000. International Assets Investment Management LLC increased its holdings in shares of McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock valued at $398,937,000 after purchasing an additional 734,849 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of McKesson by 581.0% during the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company's stock valued at $74,776,000 after purchasing an additional 129,031 shares in the last quarter. American Century Companies Inc. lifted its holdings in McKesson by 134.6% in the second quarter. American Century Companies Inc. now owns 220,619 shares of the company's stock worth $128,850,000 after purchasing an additional 126,567 shares during the period. Finally, Victory Capital Management Inc. grew its position in McKesson by 82.1% in the 3rd quarter. Victory Capital Management Inc. now owns 259,397 shares of the company's stock valued at $128,251,000 after buying an additional 116,944 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research analyst reports. Mizuho lifted their price target on McKesson from $540.00 to $570.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and upped their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup lifted 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. Finally, Barclays increased their target price on shares of McKesson from $596.00 to $616.00 and gave the company an "overweight" rating in a research note on Thursday, August 8th. Two investment 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, McKesson has an average rating of "Moderate Buy" and an average price target of $631.57.

McKesson Price Performance

McKesson stock traded up $7.00 during mid-day trading on Thursday, hitting $628.15. The company's stock had a trading volume of 338,172 shares, compared to its average volume of 819,943. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The company has a market cap of $79.74 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The firm's 50 day moving average is $528.89 and its 200 day moving average is $556.74.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the firm earned $6.23 earnings per share. The firm's revenue was up 21.3% compared to the same quarter last year. As a group, analysts forecast that McKesson Co. will post 32.81 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. McKesson's dividend payout ratio is 14.71%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.