Quent Capital LLC Grows Stock Position in McKesson Co. (NYSE:MCK)

Quent Capital LLC raised its holdings in shares of McKesson Co. (NYSE:MCK) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,178 shares of the company’s stock after acquiring an additional 20 shares during the quarter. Quent Capital LLC’s holdings in McKesson were worth $671,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its position in shares of McKesson by 343.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,727 shares of the company’s stock worth $2,832,000 after purchasing an additional 4,436 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in shares of McKesson in the third quarter worth $40,000. CX Institutional lifted its position in shares of McKesson by 175.8% in the third quarter. CX Institutional now owns 10,228 shares of the company’s stock valued at $5,057,000 after acquiring an additional 6,519 shares in the last quarter. Creative Planning boosted its stake in shares of McKesson by 2.1% during the third quarter. Creative Planning now owns 63,328 shares of the company’s stock valued at $31,064,000 after acquiring an additional 1,316 shares during the last quarter. Finally, QV Investors Inc. increased its position in McKesson by 0.6% during the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Evercore ISI lifted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $645.79.

McKesson Stock Up 1.2 %

Shares of MCK stock opened at $610.57 on Wednesday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm’s 50 day moving average price is $588.04 and its two-hundred day moving average price is $562.60. The stock has a market cap of $77.51 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last announced 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%. On average, equities analysts forecast that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s payout ratio is currently 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.