V Square Quantitative Management LLC Sells 17 Shares of McKesson Corporation $MCK

V Square Quantitative Management LLC lessened its holdings in McKesson Corporation (NYSE:MCK) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 1,042 shares of the company’s stock after selling 17 shares during the period. V Square Quantitative Management LLC’s holdings in McKesson were worth $764,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MCK. Bank of Jackson Hole Trust increased its position in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. Saudi Central Bank bought a new stake in shares of McKesson during the 1st quarter valued at approximately $34,000. Flaharty Asset Management LLC bought a new position in McKesson in the 1st quarter valued at approximately $39,000. Finally, Pandora Wealth Inc. bought a new position in McKesson in the 1st quarter valued at approximately $40,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $762.22 on Tuesday. The company has a market capitalization of $94.80 billion, a PE ratio of 30.39, a P/E/G ratio of 1.36 and a beta of 0.51. The company has a 50 day simple moving average of $698.81 and a two-hundred day simple moving average of $700.77. McKesson Corporation has a fifty-two week low of $480.39 and a fifty-two week high of $770.00.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the previous year, the business posted $7.88 EPS. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. Research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 13.08%.

Insider Activity

In other news, CEO Brian S. Tyler sold 19,371 shares of the business’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the transaction, the chief executive officer directly owned 27,872 shares of the company’s stock, valued at $19,735,884.48. The trade was a 41.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,560 shares of company stock valued at $30,438,602. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Cowen reissued a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Mizuho increased their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Citigroup upped their price objective on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Wells Fargo & Company raised their price objective on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Finally, Evercore ISI boosted their target price on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $829.08.

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.