McKesson Co. (NYSE:MCK) Stock Position Decreased by Quantinno Capital Management LP

Quantinno Capital Management LP trimmed its position in shares of McKesson Co. (NYSE:MCK) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,432 shares of the company’s stock after selling 455 shares during the period. Quantinno Capital Management LP’s holdings in McKesson were worth $9,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. International Assets Investment Management LLC grew its position in McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after buying an additional 734,849 shares in the last quarter. FMR LLC raised its position in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after acquiring an additional 425,875 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after buying an additional 321,119 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Down 0.7 %

Shares of MCK stock opened at $607.67 on Friday. The firm has a market cap of $77.14 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 1.34 and a beta of 0.49. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock has a 50-day moving average price of $552.52 and a 200 day moving average price of $561.54.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (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 analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.23 EPS. Sell-side analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCK. Evercore ISI upped their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Leerink Partners cut their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Wells Fargo & Company decreased their price target 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $635.86.

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.