McKesson Co. (NYSE:MCK) Shares Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC cut its stake in shares of McKesson Co. (NYSE:MCK) by 8.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,287 shares of the company’s stock after selling 218 shares during the period. Quadrant Capital Group LLC’s holdings in McKesson were worth $1,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Millstone Evans Group LLC purchased a new position in McKesson in the 4th quarter valued at about $28,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson in the fourth quarter worth approximately $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson in the fourth quarter worth approximately $33,000. Atala Financial Inc purchased a new stake in shares of McKesson during the fourth quarter worth approximately $34,000. Finally, Graney & King LLC acquired a new position in McKesson in the 4th quarter valued at $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MCK shares. Morgan Stanley upped their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $661.00.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 4.8 %

Shares of MCK opened at $682.41 on Monday. The company’s 50-day moving average price is $633.37 and its 200 day moving average price is $585.92. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.32. The firm has a market cap of $85.52 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

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

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s payout ratio is presently 13.00%.

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.