Qsemble Capital Management LP Makes New Investment in McKesson Co. (NYSE:MCK)

Qsemble Capital Management LP acquired a new position in shares of McKesson Co. (NYSE:MCK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,303 shares of the company’s stock, valued at approximately $1,633,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1832 Asset Management L.P. acquired a new stake in McKesson in the 1st quarter valued at $102,000. Dynasty Wealth Management LLC acquired a new stake in shares of McKesson in the 1st quarter worth about $1,086,000. B. Riley Wealth Advisors Inc. lifted its position in McKesson by 10.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,747 shares of the company’s stock valued at $2,548,000 after acquiring an additional 449 shares in the last quarter. Tidal Investments LLC boosted its stake in McKesson by 31.7% during the 1st quarter. Tidal Investments LLC now owns 7,487 shares of the company’s stock valued at $4,021,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Semmax Financial Advisors Inc. increased its holdings in McKesson by 5.2% during the 1st quarter. Semmax Financial Advisors Inc. now owns 1,399 shares of the company’s stock worth $776,000 after purchasing an additional 69 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Trading Down 1.0 %

Shares of NYSE MCK opened at $616.72 on Tuesday. The firm has a fifty day simple moving average of $532.91 and a two-hundred day simple moving average of $557.99. The firm has a market capitalization of $78.29 billion, a PE ratio of 31.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.23 EPS. On average, sell-side analysts predict that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid 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 of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is 14.71%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCK. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Leerink Partners lowered their price objective 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. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $631.57.

McKesson 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.