QRG Capital Management Inc. Sells 168 Shares of McKesson Co. (NYSE:MCK)

QRG Capital Management Inc. trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,599 shares of the company’s stock after selling 168 shares during the period. QRG Capital Management Inc.’s holdings in McKesson were worth $5,370,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MCK. Mirae Asset Global Investments Co. Ltd. boosted its position in McKesson by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,926 shares of the company’s stock valued at $15,188,000 after buying an additional 2,214 shares during the period. Assetmark Inc. boosted its position in McKesson by 12.1% during the third quarter. Assetmark Inc. now owns 8,378 shares of the company’s stock valued at $3,643,000 after buying an additional 901 shares during the period. Allspring Global Investments Holdings LLC boosted its position in McKesson by 93.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 80,354 shares of the company’s stock valued at $34,942,000 after buying an additional 38,830 shares during the period. Summit Trail Advisors LLC boosted its position in McKesson by 24.0% during the third quarter. Summit Trail Advisors LLC now owns 957 shares of the company’s stock valued at $417,000 after buying an additional 185 shares during the period. Finally, Congress Wealth Management LLC DE boosted its position in McKesson by 1.8% during the third quarter. Congress Wealth Management LLC DE now owns 2,405 shares of the company’s stock valued at $1,046,000 after buying an additional 42 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCK has been the subject of a number of analyst reports. Citigroup increased their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Barclays increased their target price on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Finally, Wells Fargo & Company increased their target price on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $571.47.

McKesson Price Performance

MCK stock traded down $3.49 during trading on Monday, reaching $556.42. The company had a trading volume of 252,798 shares, compared to its average volume of 710,149. McKesson Co. has a 52 week low of $373.28 and a 52 week high of $566.01. The company has a market cap of $72.33 billion, a P/E ratio of 25.02, a PEG ratio of 1.32 and a beta of 0.45. The business has a 50 day moving average of $532.92 and a 200 day moving average of $495.64.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same period in the prior year, the business posted $7.19 EPS. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts expect that McKesson Co. will post 31.55 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio is 11.08%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.