Quantbot Technologies LP Sells 8,184 Shares of McKesson Co. (NYSE:MCK)

Quantbot Technologies LP cut its stake in shares of McKesson Co. (NYSE:MCK) by 39.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,563 shares of the company’s stock after selling 8,184 shares during the period. Quantbot Technologies LP’s holdings in McKesson were worth $6,211,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MCK. 1832 Asset Management L.P. purchased a new position in McKesson in the first quarter worth $102,000. Dynasty Wealth Management LLC bought a new stake in McKesson during the first quarter worth about $1,086,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of McKesson by 10.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,747 shares of the company’s stock worth $2,548,000 after purchasing an additional 449 shares in the last quarter. Tidal Investments LLC increased its position in shares of McKesson by 31.7% during the 1st quarter. Tidal Investments LLC now owns 7,487 shares of the company’s stock valued at $4,021,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Semmax Financial Advisors Inc. raised its holdings in shares of McKesson by 5.2% during the 1st quarter. Semmax Financial Advisors Inc. now owns 1,399 shares of the company’s stock valued at $776,000 after buying an additional 69 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Mizuho increased their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. boosted their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was 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 of the company’s stock, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of MCK opened at $616.72 on Tuesday. The company has a 50-day simple moving average of $532.91 and a two-hundred day simple moving average of $557.99. The firm has a market capitalization of $78.29 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.23 EPS. Analysts expect that McKesson Co. will post 32.78 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

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.