Quadcap Wealth Management LLC Trims Stock Holdings in McKesson Co. (NYSE:MCK)

Quadcap Wealth Management LLC lowered its position in McKesson Co. (NYSE:MCK) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,537 shares of the company’s stock after selling 37 shares during the quarter. Quadcap Wealth Management LLC’s holdings in McKesson were worth $876,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cibc World Market Inc. increased its holdings in shares of McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after purchasing an additional 1,207 shares during the period. Brentview Investment Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $3,018,000. Ingalls & Snyder LLC increased its holdings in shares of McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after purchasing an additional 1,047 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of McKesson by 85.0% in the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company’s stock valued at $745,000 after purchasing an additional 580 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of McKesson by 6.4% in the fourth quarter. Blue Trust Inc. now owns 7,830 shares of the company’s stock valued at $4,462,000 after purchasing an additional 468 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $705.78 on Friday. The firm has a market capitalization of $88.45 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.48. The stock’s fifty day moving average is $681.75 and its two-hundred day moving average is $625.19.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. McKesson’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.18 earnings per share. As a group, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is currently 10.99%.

Analyst Upgrades and Downgrades

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

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

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.