Quarry LP grew its holdings in McKesson Co. (NYSE:MCK – Free Report) by 258.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 308 shares of the company’s stock after purchasing an additional 222 shares during the period. Quarry LP’s holdings in McKesson were worth $180,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Distillate Capital Partners LLC lifted its position in McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares in the last quarter. Wealthspire Advisors LLC increased its stake in shares of McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the last quarter. Councilmark Asset Management LLC purchased a new stake in shares of McKesson during the first quarter worth $5,160,000. Vaughan David Investments LLC IL acquired a new stake in McKesson during the second quarter valued at $238,000. Finally, BDF Gestion purchased a new position in McKesson in the second quarter valued at about $3,504,000. Institutional investors and hedge funds own 85.07% of the company’s stock.
Insider Activity
In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Read Our Latest Stock Report on MCK
McKesson Stock Up 1.3 %
Shares of MCK stock opened at $494.42 on Tuesday. The firm has a market cap of $64.24 billion, a PE ratio of 22.09, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company’s fifty day simple moving average is $549.07 and its 200-day simple moving average is $555.57.
McKesson (NYSE:MCK – Get Free Report) last issued its quarterly 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 analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $7.27 EPS. On average, equities analysts predict that McKesson Co. will post 32.07 earnings per share for the current fiscal year.
McKesson Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.57%. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is currently 12.69%.
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.
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