MQS Management LLC Decreases Position in McKesson Co. (NYSE:MCK)

MQS Management LLC trimmed its position in shares of McKesson Co. (NYSE:MCK) by 29.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 621 shares of the company’s stock after selling 255 shares during the quarter. MQS Management LLC’s holdings in McKesson were worth $333,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Lindbrook Capital LLC increased its stake in McKesson by 1.7% in the first quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after purchasing an additional 19 shares during the last quarter. KCM Investment Advisors LLC boosted its holdings in McKesson by 1.4% in the first quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock valued at $727,000 after purchasing an additional 19 shares during the last quarter. TCI Wealth Advisors Inc. lifted its holdings in McKesson by 1.3% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,531 shares of the company’s stock worth $822,000 after buying an additional 19 shares during the last quarter. Douglass Winthrop Advisors LLC lifted its holdings in McKesson by 1.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after buying an additional 21 shares during the last quarter. Finally, Addison Advisors LLC raised its position in shares of McKesson by 7.9% during the 4th quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after purchasing an additional 22 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of McKesson stock traded up $2.58 on Friday, hitting $598.31. 88,305 shares of the company’s stock traded hands, compared to its average volume of 696,795. The firm’s 50-day moving average price is $582.02 and its two-hundred day moving average price is $541.19. The stock has a market capitalization of $77.74 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45. McKesson Co. has a one year low of $395.30 and a one year high of $612.17.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter in the prior year, the company earned $7.19 EPS. McKesson’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that McKesson Co. will post 31.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on MCK shares. Morgan Stanley raised their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Evercore ISI raised their price objective on McKesson from $600.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Robert W. Baird raised their target price on McKesson from $679.00 to $694.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Barclays raised their target price on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company lifted their price objective on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $599.33.

Insider Buying and Selling

In related news, CFO Britt J. Vitalone sold 894 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $498,315.60. Following the completion of the transaction, the chief financial officer now directly owns 16,455 shares of the company’s stock, valued at approximately $9,172,017. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Leann B. Smith sold 704 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the completion of the transaction, the executive vice president now directly owns 2,215 shares in the company, valued at approximately $1,236,169.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Britt J. Vitalone sold 894 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total transaction of $498,315.60. Following the transaction, the chief financial officer now owns 16,455 shares of the company’s stock, valued at $9,172,017. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,567 shares of company stock valued at $16,691,841. Company insiders own 0.11% of the company’s stock.

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.