Quotient Wealth Partners LLC Has $343,000 Stock Position in McKesson Corporation $MCK

Quotient Wealth Partners LLC grew its position in McKesson Corporation (NYSE:MCK) by 16.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 468 shares of the company’s stock after buying an additional 65 shares during the period. Quotient Wealth Partners LLC’s holdings in McKesson were worth $343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aspiriant LLC lifted its position in McKesson by 32.1% in the 2nd quarter. Aspiriant LLC now owns 535 shares of the company’s stock valued at $392,000 after acquiring an additional 130 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its position in McKesson by 0.7% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 66,660 shares of the company’s stock valued at $48,847,000 after acquiring an additional 443 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in McKesson by 4.2% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 2,105 shares of the company’s stock valued at $1,543,000 after acquiring an additional 85 shares in the last quarter. Angeles Wealth Management LLC lifted its position in McKesson by 6.7% in the 2nd quarter. Angeles Wealth Management LLC now owns 557 shares of the company’s stock valued at $408,000 after acquiring an additional 35 shares in the last quarter. Finally, Oxbow Advisors LLC lifted its position in McKesson by 1.3% in the 2nd quarter. Oxbow Advisors LLC now owns 5,427 shares of the company’s stock valued at $3,977,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on MCK. Mizuho boosted their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Evercore ISI boosted their price target on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $834.54.

McKesson Price Performance

Shares of NYSE:MCK opened at $788.27 on Friday. The company’s 50-day moving average price is $716.48 and its two-hundred day moving average price is $710.07. McKesson Corporation has a one year low of $492.39 and a one year high of $793.97. The stock has a market capitalization of $98.05 billion, a PE ratio of 31.43, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52.

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

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is currently 13.08%.

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.