Occudo Quantitative Strategies LP Invests $406,000 in McKesson Co. (NYSE:MCK)

Occudo Quantitative Strategies LP bought a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 712 shares of the company’s stock, valued at approximately $406,000.

Several other large investors have also made changes to their positions in MCK. Miracle Mile Advisors LLC lifted its position in McKesson by 14.5% during the 4th quarter. Miracle Mile Advisors LLC now owns 752 shares of the company’s stock worth $429,000 after buying an additional 95 shares in the last quarter. Accurate Wealth Management LLC lifted its position in McKesson by 47.6% during the 4th quarter. Accurate Wealth Management LLC now owns 719 shares of the company’s stock worth $419,000 after buying an additional 232 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in McKesson by 17.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 846 shares of the company’s stock worth $482,000 after buying an additional 124 shares in the last quarter. Acropolis Investment Management LLC lifted its position in McKesson by 38.7% during the 4th quarter. Acropolis Investment Management LLC now owns 251 shares of the company’s stock worth $143,000 after buying an additional 70 shares in the last quarter. Finally, ERn Financial LLC acquired a new position in McKesson during the 4th quarter worth about $228,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

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

McKesson Price Performance

Shares of NYSE:MCK opened at $705.78 on Friday. The company has a market capitalization of $88.45 billion, a price-to-earnings ratio of 32.32, a P/E/G ratio of 1.29 and a beta of 0.53. The firm’s 50 day simple moving average is $681.75 and its 200 day simple moving average is $625.19. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.48.

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

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson’s payout ratio is 10.99%.

Analyst Ratings Changes

Several research analysts recently issued reports on MCK shares. Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Evercore ISI upped their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. UBS Group upped their target price on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley upped their target price on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.