Quantinno Capital Management LP Has $61.94 Million Stake in McKesson Corporation $MCK

Quantinno Capital Management LP raised its position in McKesson Corporation (NYSE:MCK) by 20.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,575 shares of the company’s stock after buying an additional 12,344 shares during the quarter. Quantinno Capital Management LP’s holdings in McKesson were worth $61,939,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC lifted its holdings in shares of McKesson by 28.0% during the 1st quarter. Lazard Asset Management LLC now owns 59,478 shares of the company’s stock worth $51,470,000 after acquiring an additional 13,023 shares during the period. Family Manage LLC bought a new position in McKesson in the first quarter valued at approximately $2,120,000. Gateway Wealth Partners LLC raised its position in McKesson by 269.7% during the first quarter. Gateway Wealth Partners LLC now owns 1,390 shares of the company’s stock valued at $1,203,000 after purchasing an additional 1,014 shares in the last quarter. OMERS ADMINISTRATION Corp raised its position in McKesson by 20.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 9,707 shares of the company’s stock valued at $8,400,000 after purchasing an additional 1,677 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT raised its position in McKesson by 16.2% during the first quarter. Bradley Foster & Sargent Inc. CT now owns 402 shares of the company’s stock valued at $348,000 after purchasing an additional 56 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MCK. Bank of America reduced their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Citigroup boosted their price target on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Wells Fargo & Company reduced their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. decreased their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $962.67.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,748 shares of company stock worth $22,262,035. Insiders own 0.06% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $891.37 on Wednesday. The company has a market cap of $104.36 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.40 and a beta of 0.31. The firm has a 50 day simple moving average of $784.12 and a 200 day simple moving average of $839.21. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 8.53%.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.