Susquehanna Portfolio Strategies LLC Has $14.59 Million Position in McKesson Co. (NYSE:MCK)

Susquehanna Portfolio Strategies LLC trimmed its position in McKesson Co. (NYSE:MCK) by 66.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,982 shares of the company’s stock after selling 49,439 shares during the quarter. Susquehanna Portfolio Strategies LLC’s holdings in McKesson were worth $14,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in McKesson by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after buying an additional 46,659 shares during the last quarter. Putnam Investments LLC grew its stake in shares of McKesson by 3.2% in the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after acquiring an additional 62,242 shares during the last quarter. Legal & General Group Plc increased its position in McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after acquiring an additional 36,583 shares during the period. Swedbank AB acquired a new position in McKesson during the 1st quarter valued at $669,326,000. Finally, Boston Partners boosted its holdings in McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after purchasing an additional 47,140 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research analyst reports. Citigroup cut their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 price target (down previously from $603.00) on shares of McKesson in a report on Tuesday. Evercore ISI decreased their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Barclays upped their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $613.36.

McKesson Stock Up 1.9 %

Shares of McKesson stock opened at $488.35 on Friday. The stock has a market capitalization of $63.45 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The company has a 50-day simple moving average of $552.67 and a 200 day simple moving average of $555.67.

McKesson (NYSE:MCK) last posted its earnings results 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. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.27 earnings per share. On average, equities analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.58%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is currently 12.69%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares in the company, valued at approximately $50,012,564.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 11,259 shares of company stock worth $6,635,492. 0.11% of the stock is owned by corporate insiders.

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.