Worldquant Millennium Advisors LLC Makes New $86.21 Million Investment in McKesson Co. (NYSE:MCK)

Worldquant Millennium Advisors LLC bought a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 151,268 shares of the company’s stock, valued at approximately $86,209,000. Worldquant Millennium Advisors LLC owned 0.12% of McKesson 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. Frank Rimerman Advisors LLC boosted its position in McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after purchasing an additional 17 shares in the last quarter. Trust Co. of Vermont boosted its position in McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares in the last quarter. Hemington Wealth Management boosted its position in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after purchasing an additional 18 shares in the last quarter. First Western Trust Bank boosted its position in McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after purchasing an additional 18 shares in the last quarter. Finally, Calamos Wealth Management LLC boosted its position in McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $726.05 on Tuesday. The business has a fifty day moving average price of $684.84 and a 200 day moving average price of $629.90. McKesson Co. has a one year low of $464.42 and a one year high of $728.48. The company has a market cap of $90.84 billion, a P/E ratio of 33.24, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same period in the prior year, the company earned $6.18 EPS. The firm’s revenue was up 18.9% compared to the same quarter last year. As a group, sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson’s dividend payout ratio is currently 10.99%.

Analysts Set New Price Targets

MCK has been the topic of several recent research reports. Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. UBS Group upped their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Evercore ISI upped 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. Finally, Wells Fargo & Company upped their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $686.69.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction 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 directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

About McKesson

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.