QRG Capital Management Inc. Has $12.65 Million Stake in McKesson Co. (NYSE:MCK)

QRG Capital Management Inc. trimmed its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,800 shares of the company's stock after selling 1,191 shares during the period. QRG Capital Management Inc.'s holdings in McKesson were worth $12,652,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its position in shares of McKesson by 8.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after purchasing an additional 222,496 shares in the last quarter. Geode Capital Management LLC lifted its holdings in McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after buying an additional 10,015 shares during the period. Franklin Resources Inc. lifted its holdings in McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after buying an additional 114,396 shares during the period. GAMMA Investing LLC lifted its holdings in McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after buying an additional 2,389,992 shares during the period. Finally, Norges Bank acquired a new position in McKesson in the fourth quarter valued at approximately $1,200,361,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the sale, the chief executive officer now owns 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock valued at $23,526,451 in the last quarter. Company insiders own 0.11% of the company's stock.

McKesson Trading Down 1.2%

McKesson stock opened at $719.53 on Tuesday. The company has a market cap of $90.02 billion, a P/E ratio of 32.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $732.99. The company has a fifty day simple moving average of $704.62 and a 200 day simple moving average of $645.26.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the firm earned $6.18 earnings per share. On average, equities research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Morgan Stanley increased their price objective on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. UBS Group increased their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and a consensus price target of $694.38.

McKesson 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.

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