Quent Capital LLC Sells 120 Shares of McKesson Corporation $MCK

Quent Capital LLC cut its position in shares of McKesson Corporation (NYSE:MCK) by 9.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,177 shares of the company’s stock after selling 120 shares during the period. Quent Capital LLC’s holdings in McKesson were worth $862,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MCK. Northern Trust Corp increased its stake in McKesson by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after purchasing an additional 10,179 shares during the period. Boston Partners increased its stake in McKesson by 33.3% in the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after purchasing an additional 365,484 shares during the period. Price T Rowe Associates Inc. MD increased its stake in McKesson by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock worth $868,237,000 after purchasing an additional 107,638 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in McKesson by 16.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock worth $864,712,000 after purchasing an additional 181,831 shares during the period. Finally, Invesco Ltd. increased its stake in McKesson by 0.7% in the 1st quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock worth $714,543,000 after purchasing an additional 7,108 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MCK shares. Leerink Partners lifted their price target on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Mizuho lifted their price objective on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a research report on Saturday, September 27th. Cowen reiterated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $829.08.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,560 shares of company stock worth $30,438,602 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Down 2.7%

NYSE MCK opened at $738.00 on Friday. McKesson Corporation has a twelve month low of $480.39 and a twelve month high of $776.14. The firm has a market capitalization of $91.80 billion, a PE ratio of 29.43, a P/E/G ratio of 1.36 and a beta of 0.52. The stock’s 50 day moving average is $702.60 and its 200 day moving average is $702.96.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. 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 prior year, the firm earned $7.88 earnings per share. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.82 per share. This is a boost from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. McKesson’s dividend payout ratio is presently 13.08%.

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.