McKesson Co. (NYSE:MCK) Shares Sold by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC lowered its stake in shares of McKesson Co. (NYSE:MCK) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,537 shares of the company’s stock after selling 37 shares during the period. Quadcap Wealth Management LLC’s holdings in McKesson were worth $876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cibc World Market Inc. lifted its stake in shares of McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after purchasing an additional 1,207 shares during the last quarter. Brentview Investment Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at $3,018,000. Ingalls & Snyder LLC lifted its stake in shares of McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after purchasing an additional 1,047 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of McKesson by 85.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company’s stock valued at $745,000 after purchasing an additional 580 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of McKesson by 6.4% in the 4th quarter. Blue Trust Inc. now owns 7,830 shares of the company’s stock valued at $4,462,000 after purchasing an additional 468 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

MCK stock opened at $705.78 on Friday. The firm has a market capitalization of $88.45 billion, a P/E ratio of 32.32, a P/E/G ratio of 1.29 and a beta of 0.53. The business’s 50-day moving average is $681.75 and its two-hundred day moving average is $625.19. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.48.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the prior year, the business posted $6.18 EPS. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio (DPR) is 10.99%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MCK shares. Mizuho upped their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Bank of America increased their target price on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $686.69.

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.