Quent Capital LLC Sells 120 Shares of McKesson Corporation $MCK

Quent Capital LLC lessened its holdings in McKesson Corporation (NYSE:MCK) by 9.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,177 shares of the company’s stock after selling 120 shares during the quarter. Quent Capital LLC’s holdings in McKesson were worth $862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC grew its stake in shares of McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares during the period. Bank of Jackson Hole Trust grew its stake in shares of McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares during the period. Saudi Central Bank bought a new position in shares of McKesson during the 1st quarter worth $34,000. Flaharty Asset Management LLC bought a new position in shares of McKesson during the 1st quarter worth $39,000. Finally, Signature Resources Capital Management LLC bought a new position in shares of McKesson during the 2nd quarter worth $43,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 2.7%

NYSE:MCK opened at $738.00 on Friday. The business’s 50-day moving average price is $702.60 and its two-hundred day moving average price is $702.96. McKesson Corporation has a twelve month low of $480.39 and a twelve month high of $776.14. The stock has a market cap of $91.80 billion, a P/E ratio of 29.43, a PEG ratio of 1.36 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. During the same period in the previous year, the business earned $7.88 EPS. The business’s revenue was up 23.4% on a year-over-year basis. On average, equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is 13.08%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Citigroup increased their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Morgan Stanley increased their price objective on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. UBS Group increased their price objective on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Wells Fargo & Company increased their price objective on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $829.08.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This trade represents a 33.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,560 shares of company stock worth $30,438,602. Insiders own 0.08% 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.