QRG Capital Management Inc. Sells 33,047 Shares of McKesson Co. (NYSE:MCK)

QRG Capital Management Inc. decreased its position in McKesson Co. (NYSE:MCK) by 62.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,991 shares of the company’s stock after selling 33,047 shares during the quarter. QRG Capital Management Inc.’s holdings in McKesson were worth $11,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the third quarter valued at approximately $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $32,000. Crews Bank & Trust bought a new stake in McKesson during the fourth quarter worth $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.4 %

McKesson stock opened at $621.03 on Friday. The business has a 50-day simple moving average of $592.91 and a 200 day simple moving average of $563.46. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The stock has a market cap of $77.83 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,268 shares of company stock worth $11,536,378. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MCK shares. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley raised their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company upped their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

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.