19,442 Shares in McKesson Corporation $MCK Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP acquired 19,442 McKesson shares worth approximately $14.69 million in the second quarter, making McKesson its 10th-largest holding. Institutional investors collectively own 85.07% of the company.
• McKesson reported quarterly EPS of $9.93, exceeding estimates of $9.56, while revenue rose 7.7% year over year to $105.38 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $973.44.
• The company increased its quarterly dividend from $0.82 to $0.94 per share, equivalent to an annualized dividend of $3.76 and a 0.4% yield. Shares opened at $862.27, up 2.8%.

Quantbot Technologies LP acquired a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,442 shares of the company's stock, valued at approximately $14,690,000. McKesson comprises about 0.6% of Quantbot Technologies LP's portfolio, making the stock its 10th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. purchased a new position in shares of McKesson in the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in shares of McKesson during the 4th quarter valued at approximately $26,000. State of Wyoming purchased a new stake in McKesson during the 2nd quarter valued at $29,000. Kingdom Financial Group LLC. bought a new stake in McKesson in the fourth quarter worth $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in McKesson in the fourth quarter worth $33,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 2.8%

Shares of McKesson stock opened at $862.27 on Friday. The stock's fifty day moving average is $820.97 and its two-hundred day moving average is $843.86. McKesson Corporation has a 52 week low of $673.38 and a 52 week high of $999.00. The company has a market capitalization of $100.53 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is a positive change from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio (DPR) is 8.78%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a research report on Friday, July 24th. TD Cowen raised their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. William Blair began coverage on shares of McKesson in a report on Tuesday, April 28th. They set an "outperform" rating on the stock. Finally, Barclays increased their price objective on shares of McKesson from $925.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and a consensus price target of $973.44.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the firm's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,049 shares of company stock worth $22,530,626 over the last 90 days. Corporate insiders own 0.06% of the company's stock.

About McKesson

McKesson Corporation NYSE: MCK is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company's core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.

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