V Square Quantitative Management LLC Acquires 240 Shares of McKesson Co. (NYSE:MCK)

V Square Quantitative Management LLC raised its holdings in shares of McKesson Co. (NYSE:MCK) by 27.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,129 shares of the company’s stock after purchasing an additional 240 shares during the quarter. V Square Quantitative Management LLC’s holdings in McKesson were worth $558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of McKesson during the first quarter worth $28,000. Register Financial Advisors LLC bought a new stake in shares of McKesson during the first quarter worth $29,000. Wolff Wiese Magana LLC raised its holdings in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in shares of McKesson in the third quarter valued at about $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson in the second quarter valued at about $52,000. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 of the company’s stock, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.1 %

Shares of NYSE MCK opened at $509.20 on Friday. The business’s 50 day moving average price is $521.09 and its 200 day moving average price is $552.06. The firm has a market cap of $66.16 billion, a P/E ratio of 22.75, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.27 earnings per share. As a group, research analysts expect that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s dividend payout ratio is presently 12.69%.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Wells Fargo & Company decreased their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Robert W. Baird restated a “neutral” rating and issued a $531.00 price objective (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Citigroup decreased their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. lifted their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

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.