19,442 Shares in McKesson Corporation $MCK Bought by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in shares of McKesson Corporation (NYSE:MCKFree Report) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 19,442 shares of the company’s stock, valued at approximately $14,690,000. McKesson accounts for approximately 0.6% of Quantbot Technologies LP’s investment portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. Brighton Jones LLC lifted its position in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of McKesson in the 1st quarter worth approximately $233,000. Sivia Capital Partners LLC grew its position in shares of McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in shares of McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after acquiring an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of McKesson during the 2nd quarter worth approximately $166,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MCK shares. Citigroup raised their target price on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. JPMorgan Chase & Co. decreased their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. UBS Group raised their price objective on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $1,015.00 target price on McKesson in a research note on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

Read Our Latest Stock Report on McKesson

Insider Buying and Selling

In related news, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,049 shares of company stock worth $22,530,626 over the last three months. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Up 2.8%

MCK stock opened at $862.27 on Friday. The stock has a market capitalization of $100.53 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30. McKesson Corporation has a 52 week low of $673.38 and a 52 week high of $999.00. The firm has a 50 day moving average of $820.97 and a 200 day moving average of $843.86.

McKesson (NYSE:MCKGet Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts expect that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is currently 8.78%.

About McKesson

(Free Report)

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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