QRG Capital Management Inc. Has $26.22 Million Holdings in McKesson Co. (NYSE:MCK)

QRG Capital Management Inc. cut its position in McKesson Co. (NYSE:MCK) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,038 shares of the company’s stock after selling 48 shares during the period. QRG Capital Management Inc.’s holdings in McKesson were worth $26,223,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. LRI Investments LLC bought a new position in shares of McKesson in the first quarter worth about $28,000. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of McKesson during the third quarter worth approximately $40,000. Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson during the second quarter worth approximately $52,000. Finally, Centennial Bank AR bought a new stake in shares of McKesson during the second quarter worth approximately $53,000. 85.07% of the stock is owned by institutional investors.

McKesson Trading Down 0.2 %

McKesson stock traded down $0.82 during trading hours on Monday, reaching $525.52. 97,226 shares of the stock were exchanged, compared to its average volume of 802,841. The company has a market cap of $68.15 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The stock has a 50 day moving average of $512.00 and a two-hundred day moving average of $550.57.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $7.27 earnings per share. On average, analysts expect that McKesson Co. will post 31.92 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.54%. McKesson’s payout ratio is currently 12.70%.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Evercore ISI lowered their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird reiterated a “neutral” rating and issued a $531.00 price target (down previously from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $610.86.

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.