MQS Management LLC Takes $392,000 Position in McKesson Co. (NYSE:MCK)

MQS Management LLC bought a new stake in McKesson Co. (NYSE:MCK) in the 3rd quarter, Holdings Channel.com reports. The fund bought 793 shares of the company’s stock, valued at approximately $392,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swedbank AB acquired a new position in McKesson during the 1st quarter worth about $669,326,000. International Assets Investment Management LLC boosted its stake in shares of McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after purchasing an additional 734,849 shares during the period. Bessemer Group Inc. grew its holdings in shares of McKesson by 3,621.7% in the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after purchasing an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. purchased a new position in McKesson in the 1st quarter valued at approximately $97,510,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of McKesson by 581.0% in the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after acquiring an additional 129,031 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCK. Mizuho increased their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 1.1 %

Shares of NYSE MCK opened at $624.61 on Thursday. The stock has a market cap of $79.29 billion, a P/E ratio of 32.35, a P/E/G ratio of 1.33 and a beta of 0.44. The stock has a 50 day moving average of $515.00 and a two-hundred day moving average of $552.91. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.23 EPS. As a group, research analysts predict that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.45%. McKesson’s dividend payout ratio is currently 14.71%.

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.