Quent Capital LLC Boosts Stock Position in McKesson Co. (NYSE:MCK)

Quent Capital LLC boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,178 shares of the company’s stock after buying an additional 20 shares during the quarter. Quent Capital LLC’s holdings in McKesson were worth $671,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Old North State Trust LLC boosted its stake in shares of McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after buying an additional 18 shares during the period. Trust Co. of Vermont lifted its stake in McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the last quarter. Black Diamond Financial LLC grew its holdings in McKesson by 1.3% during the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after acquiring an additional 19 shares in the last quarter. QV Investors Inc. increased its position in shares of McKesson by 0.6% in the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock valued at $1,730,000 after purchasing an additional 20 shares during the last quarter. Finally, Calamos Wealth Management LLC raised its holdings in shares of McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after purchasing an additional 20 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MCK shares. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $645.79.

McKesson Trading Up 1.2 %

NYSE:MCK opened at $610.57 on Wednesday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock’s 50 day simple moving average is $588.04 and its 200-day simple moving average is $562.60. The firm has a market cap of $77.51 billion, a P/E ratio of 27.96, a PEG ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Research analysts forecast that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

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.