Qsemble Capital Management LP Takes Position in McKesson Co. (NYSE:MCK)

Qsemble Capital Management LP acquired a new position in shares of McKesson Co. (NYSE:MCK) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,303 shares of the company’s stock, valued at approximately $1,633,000.

Several other institutional investors have also recently added to or reduced their stakes in MCK. RFP Financial Group LLC raised its stake in McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after acquiring an additional 17 shares during the period. Modera Wealth Management LLC grew its position in McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after buying an additional 17 shares during the last quarter. First Western Trust Bank boosted its position in shares of McKesson by 2.0% during the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after buying an additional 18 shares during the period. Finally, Lester Murray Antman dba SimplyRich grew its holdings in McKesson by 0.4% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock worth $2,935,000 after buying an additional 19 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Citigroup lifted their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Evercore ISI raised their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Leerink Partners cut their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by insiders.

McKesson Stock Performance

Shares of McKesson stock opened at $616.72 on Tuesday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The stock has a market cap of $78.29 billion, a PE ratio of 31.94, a PEG ratio of 1.35 and a beta of 0.44. The firm has a 50-day moving average of $532.91 and a 200-day moving average of $557.99.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm earned $6.23 earnings per share. Equities research analysts predict that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s payout ratio is currently 14.71%.

About McKesson

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.