Quantbot Technologies LP Acquires 7,638 Shares of McKesson Co. (NYSE:MCK)

Quantbot Technologies LP lifted its position in McKesson Co. (NYSE:MCK) by 60.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,201 shares of the company’s stock after purchasing an additional 7,638 shares during the quarter. McKesson comprises about 0.4% of Quantbot Technologies LP’s investment portfolio, making the stock its 27th biggest position. Quantbot Technologies LP’s holdings in McKesson were worth $11,513,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Millstone Evans Group LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the fourth quarter valued at about $32,000. Crews Bank & Trust purchased a new position in McKesson in the 4th quarter worth $33,000. Atala Financial Inc acquired a new stake in McKesson during the 4th quarter valued at approximately $34,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the third quarter worth about $31,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction 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 transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MCK. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company raised their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Finally, Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Stock Performance

McKesson stock opened at $659.45 on Friday. The company has a market cap of $82.65 billion, a P/E ratio of 30.19, a PEG ratio of 1.29 and a beta of 0.52. The firm’s 50-day moving average is $616.14 and its 200-day moving average is $574.33. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $670.79.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, sell-side analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s dividend payout ratio is 13.00%.

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.