Quadrature Capital Ltd Invests $37.74 Million in McKesson Corporation $MCK

Quadrature Capital Ltd purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 51,499 shares of the company’s stock, valued at approximately $37,741,000.

Several other large investors also recently bought and sold shares of the business. Solstein Capital LLC lifted its stake in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after acquiring an additional 24 shares during the period. GFG Capital LLC bought a new stake in shares of McKesson in the second quarter worth approximately $30,000. Bank of Jackson Hole Trust raised its holdings in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after purchasing an additional 18 shares during the last quarter. Saudi Central Bank bought a new position in McKesson during the first quarter valued at approximately $34,000. Finally, Access Investment Management LLC purchased a new stake in McKesson in the second quarter worth approximately $40,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by insiders.

McKesson Stock Down 0.5%

NYSE MCK opened at $884.76 on Friday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $895.58. The company has a market capitalization of $109.20 billion, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The stock’s 50-day moving average price is $803.50 and its 200-day moving average price is $739.53.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the previous year, the company posted $7.07 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. Research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 10.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MCK shares. Citigroup boosted their target price on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Evercore ISI reiterated an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a research report on Thursday, November 6th. TD Cowen raised their target price on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wells Fargo & Company upped their price target on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Finally, Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $887.69.

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.