McKesson Co. (NYSE:MCK) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its stake in shares of McKesson Co. (NYSE:MCK) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,038 shares of the company’s stock after selling 48 shares during the quarter. QRG Capital Management Inc.’s holdings in McKesson were worth $26,223,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. LRI Investments LLC bought a new stake in McKesson during the first quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted its holdings in 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 in the last quarter. ORG Wealth Partners LLC acquired a new position in McKesson in the 3rd quarter worth approximately $40,000. Carmichael Hill & Associates Inc. acquired a new position in McKesson in the 2nd quarter worth approximately $52,000. Finally, Centennial Bank AR acquired a new position in McKesson in the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MCK. Wells Fargo & Company decreased their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays raised their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Citigroup decreased their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Finally, StockNews.com lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $610.86.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction 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 transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock traded down $0.82 during midday trading on Monday, reaching $525.52. 97,226 shares of the company’s stock traded hands, compared to its average volume of 802,841. The company has a market cap of $68.15 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The company’s 50 day simple moving average is $512.00 and its 200 day simple moving average is $550.57. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $7.27 EPS. As a group, equities research analysts predict that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.54%. McKesson’s dividend payout ratio (DPR) is presently 12.70%.

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.