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

Quantbot Technologies LP cut its holdings in shares of McKesson Co. (NYSE:MCK) by 39.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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.

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

Analyst Ratings Changes

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

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company’s stock.

McKesson Trading Down 1.0 %

Shares of MCK stock opened at $616.72 on Tuesday. The firm’s 50 day moving average is $532.91 and its 200 day moving average is $557.99. The stock has a market capitalization of $78.29 billion, a P/E ratio of 31.94, a PEG ratio of 1.35 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.23 earnings per share. On average, equities analysts predict that McKesson Co. will post 32.78 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is presently 14.71%.

McKesson 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.