Occudo Quantitative Strategies LP Makes New Investment in McKesson Co. (NYSE:MCK)

Occudo Quantitative Strategies LP acquired a new stake in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 712 shares of the company's stock, valued at approximately $406,000.

A number of other large investors also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in shares of McKesson during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC purchased a new position in shares of McKesson in the 4th quarter valued at about $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson in the fourth quarter valued at about $33,000. Atala Financial Inc purchased a new stake in shares of McKesson during the 4th quarter worth approximately $34,000. Finally, Graney & King LLC acquired a new stake in shares of McKesson in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Mizuho upped their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Wells Fargo & Company lifted their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Bank of America raised their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Morgan Stanley upped their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $686.69.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the company's 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 owns 60,664 shares of the company's stock, valued at $36,276,465.36. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Up 0.3%

MCK traded up $1.87 during midday trading on Monday, hitting $726.05. The company's stock had a trading volume of 785,862 shares, compared to its average volume of 916,487. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.48. The firm has a 50-day moving average price of $683.14 and a two-hundred day moving average price of $628.50. The firm has a market cap of $90.84 billion, a P/E ratio of 33.24, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same quarter in the prior year, the business posted $6.18 earnings per share. McKesson's revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities analysts expect 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 issued a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson's dividend payout ratio (DPR) is 10.99%.

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.