Quad Cities Investment Group LLC Has $235,000 Position in McKesson Co. (NYSE:MCK)

Quad Cities Investment Group LLC lessened its stake in shares of McKesson Co. (NYSE:MCK) by 21.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 412 shares of the company’s stock after selling 114 shares during the quarter. Quad Cities Investment Group LLC’s holdings in McKesson were worth $235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Headlands Technologies LLC boosted its holdings in shares of McKesson by 77.4% during the second quarter. Headlands Technologies LLC now owns 220 shares of the company’s stock worth $128,000 after acquiring an additional 96 shares during the period. Oppenheimer & Co. Inc. boosted its stake in McKesson by 6.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,905 shares of the company’s stock valued at $2,281,000 after purchasing an additional 233 shares during the period. Parallel Advisors LLC grew its holdings in McKesson by 12.8% in the 2nd quarter. Parallel Advisors LLC now owns 2,476 shares of the company’s stock valued at $1,446,000 after buying an additional 281 shares in the last quarter. Wealthspire Advisors LLC increased its position in McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after buying an additional 133 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of McKesson by 140.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,992 shares of the company’s stock worth $1,747,000 after buying an additional 1,747 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.

McKesson Price Performance

Shares of McKesson stock opened at $584.62 on Tuesday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm has a market capitalization of $74.21 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.25 and a beta of 0.52. The company’s 50 day moving average price is $593.71 and its two-hundred day moving average price is $560.83.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during 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 period last year, the company earned $6.23 earnings per share. On average, analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Analysts Set New Price Targets

Several equities analysts recently commented on MCK shares. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

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.