XTX Topco Ltd Sells 2,280 Shares of McKesson Co. (NYSE:MCK)

XTX Topco Ltd trimmed its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 34.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,295 shares of the company's stock after selling 2,280 shares during the period. XTX Topco Ltd's holdings in McKesson were worth $2,124,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC boosted its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the third quarter worth approximately $31,000. ORG Wealth Partners LLC bought a new stake in McKesson during the third quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in McKesson during the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Down 0.7 %

NYSE MCK traded down $3.99 during trading on Friday, hitting $603.53. 730,596 shares of the stock traded hands, compared to its average volume of 826,811. The company has a market capitalization of $76.61 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a 50-day simple moving average of $554.83 and a 200-day simple moving average of $561.91.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. During the same period in the prior year, the company earned $6.23 EPS. The business's revenue was up 21.3% compared to the same quarter last year. As a group, research analysts predict that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson's dividend payout ratio is currently 14.71%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Leerink Partners reduced their price objective on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Wells Fargo & Company lowered their price objective on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a research report on Friday, September 13th. JPMorgan Chase & Co. increased their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $635.86.

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.