XTX Topco Ltd Buys 1,383 Shares of McKesson Co. (NYSE:MCK)

XTX Topco Ltd boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 26.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,575 shares of the company’s stock after buying an additional 1,383 shares during the quarter. McKesson makes up approximately 0.3% of XTX Topco Ltd’s investment portfolio, making the stock its 21st largest position. XTX Topco Ltd’s holdings in McKesson were worth $3,840,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swedbank AB bought a new position in shares of McKesson in the first quarter valued at about $669,326,000. TD Asset Management Inc boosted its stake in McKesson by 202.8% in the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after purchasing an additional 403,312 shares during the period. Bessemer Group Inc. grew its holdings in McKesson by 3,621.7% in the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after buying an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new stake in shares of McKesson in the first quarter valued at about $97,510,000. Finally, Third Point LLC bought a new position in McKesson during the fourth quarter worth about $76,392,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.4 %

Shares of MCK opened at $511.62 on Thursday. The stock has a market cap of $66.48 billion, a PE ratio of 22.86, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12-month low of $428.50 and a 12-month high of $637.51. The business has a 50-day simple moving average of $562.98 and a two-hundred day simple moving average of $557.34.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter last year, the business earned $7.27 EPS. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts expect that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. McKesson’s payout ratio is currently 12.69%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the sale, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 11,259 shares of company stock worth $6,635,492 over the last three months. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent research reports. Evercore ISI cut their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Robert W. Baird dropped their price target on McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Leerink Partners decreased their target price on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Bank of America boosted their target price on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Argus increased their price target on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

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.