Worldquant Millennium Advisors LLC Acquires Shares of 151,268 McKesson Co. (NYSE:MCK)

Worldquant Millennium Advisors LLC bought a new stake in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 151,268 shares of the company's stock, valued at approximately $86,209,000. Worldquant Millennium Advisors LLC owned about 0.12% of McKesson as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Woodline Partners LP acquired a new stake in shares of McKesson in the fourth quarter valued at about $1,891,000. iSAM Funds UK Ltd acquired a new stake in shares of McKesson in the fourth quarter valued at about $548,000. Victrix Investment Advisors acquired a new stake in shares of McKesson in the fourth quarter valued at about $829,000. Twinbeech Capital LP increased its position in shares of McKesson by 3,047.8% in the fourth quarter. Twinbeech Capital LP now owns 22,003 shares of the company's stock valued at $12,540,000 after acquiring an additional 21,304 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of McKesson by 461.4% in the fourth quarter. Two Sigma Advisers LP now owns 128,000 shares of the company's stock valued at $72,948,000 after acquiring an additional 105,200 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity at McKesson

In related news, CFO Britt J. Vitalone sold 6,336 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the sale, the chief financial officer now directly owns 14,760 shares in the company, valued at approximately $10,587,348. The trade was a 30.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the sale, the executive vice president now owns 2,621 shares of the company's stock, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,127 shares of company stock worth $5,834,498. Company insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MCK. Mizuho lifted their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. UBS Group lifted their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $686.69.

McKesson Trading Up 0.7%

Shares of NYSE:MCK traded up $4.80 during trading on Friday, reaching $715.44. 815,972 shares of the stock were exchanged, compared to its average volume of 918,692. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00. The firm has a market cap of $89.51 billion, a PE ratio of 32.76, a PEG ratio of 1.29 and a beta of 0.53. The stock has a 50-day moving average price of $689.88 and a 200-day moving average price of $634.29.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same quarter in the previous year, the company posted $6.18 earnings per share. The business's revenue was up 18.9% on a year-over-year basis. On average, sell-side analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is currently 10.99%.

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.