McKesson Co. (NYSE:MCK) Holdings Boosted by Quarry LP

Quarry LP grew its holdings in McKesson Co. (NYSE:MCK) by 258.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 308 shares of the company’s stock after purchasing an additional 222 shares during the period. Quarry LP’s holdings in McKesson were worth $180,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Distillate Capital Partners LLC lifted its position in McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares in the last quarter. Wealthspire Advisors LLC increased its stake in shares of McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the last quarter. Councilmark Asset Management LLC purchased a new stake in shares of McKesson during the first quarter worth $5,160,000. Vaughan David Investments LLC IL acquired a new stake in McKesson during the second quarter valued at $238,000. Finally, BDF Gestion purchased a new position in McKesson in the second quarter valued at about $3,504,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MCK shares. Mizuho increased their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Robert W. Baird restated a “neutral” rating and set a $531.00 price target (down previously from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Wells Fargo & Company reduced their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note 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 research report on Wednesday, August 21st. Finally, Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $613.36.

McKesson Stock Up 1.3 %

Shares of MCK stock opened at $494.42 on Tuesday. The firm has a market cap of $64.24 billion, a PE ratio of 22.09, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company’s fifty day simple moving average is $549.07 and its 200-day simple moving average is $555.57.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $7.27 EPS. On average, equities analysts predict that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.57%. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is currently 12.69%.

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.