QRG Capital Management Inc. Sells 33,047 Shares of McKesson Co. (NYSE:MCK)

QRG Capital Management Inc. trimmed its stake in shares of McKesson Co. (NYSE:MCK) by 62.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,991 shares of the company’s stock after selling 33,047 shares during the quarter. QRG Capital Management Inc.’s holdings in McKesson were worth $11,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Farmers & Merchants Investments Inc. increased its stake in shares of McKesson by 3,125.0% in the third quarter. Farmers & Merchants Investments Inc. now owns 129 shares of the company’s stock worth $64,000 after buying an additional 125 shares during the period. Valmark Advisers Inc. increased its position in shares of McKesson by 31.4% in the third quarter. Valmark Advisers Inc. now owns 920 shares of the company’s stock valued at $455,000 after acquiring an additional 220 shares during the period. Mutual Advisors LLC raised its stake in shares of McKesson by 12.6% during the third quarter. Mutual Advisors LLC now owns 3,032 shares of the company’s stock valued at $1,531,000 after acquiring an additional 340 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of McKesson by 11.6% during the third quarter. Pinnacle Associates Ltd. now owns 2,582 shares of the company’s stock worth $1,196,000 after purchasing an additional 268 shares during the period. Finally, SteelPeak Wealth LLC grew its stake in shares of McKesson by 13.7% in the third quarter. SteelPeak Wealth LLC now owns 3,665 shares of the company’s stock worth $1,814,000 after purchasing an additional 443 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent analyst reports. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Bank of America cut their price target 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. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Price Performance

Shares of NYSE:MCK opened at $621.03 on Friday. The company has a market capitalization of $77.83 billion, a PE ratio of 28.44, a PEG ratio of 1.29 and a beta of 0.52. The business has a fifty day moving average price of $592.91 and a 200-day moving average price of $563.46. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,268 shares of company stock valued at $11,536,378. Corporate insiders own 0.11% of the company’s stock.

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.