Marshall Wace LLP Sells 129,319 Shares of McKesson Co. (NYSE:MCK)

Marshall Wace LLP lessened its position in McKesson Co. (NYSE:MCK) by 22.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 440,013 shares of the company’s stock after selling 129,319 shares during the quarter. Marshall Wace LLP owned approximately 0.34% of McKesson worth $256,985,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Xponance Inc. boosted its stake in shares of McKesson by 15.6% during the 2nd quarter. Xponance Inc. now owns 26,637 shares of the company’s stock worth $15,557,000 after acquiring an additional 3,600 shares during the period. Lombard Odier Asset Management Europe Ltd bought a new stake in shares of McKesson during the 2nd quarter valued at $5,256,000. Integral Health Asset Management LLC bought a new stake in shares of McKesson during the 2nd quarter valued at $11,681,000. Public Sector Pension Investment Board raised its holdings in shares of McKesson by 76.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 4,778 shares of the company’s stock worth $2,791,000 after buying an additional 2,064 shares in the last quarter. Finally, Beck Capital Management LLC raised its holdings in shares of McKesson by 1.1% during the 2nd quarter. Beck Capital Management LLC now owns 6,846 shares of the company’s stock worth $3,998,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MCK. Leerink Partners lowered their target price on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Bank of America increased their price target on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Robert W. Baird cut their target price on McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Barclays upped their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $620.93.

McKesson Stock Performance

NYSE:MCK opened at $505.00 on Tuesday. The firm has a market capitalization of $65.62 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The stock has a fifty day moving average of $558.79 and a 200 day moving average of $557.07.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.27 earnings per share. Equities analysts forecast that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is currently 12.69%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares in the company, valued at approximately $50,012,564.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 11,259 shares of company stock worth $6,635,492 in the last 90 days. Company insiders own 0.11% of the company’s stock.

McKesson 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.