XTX Topco Ltd Has $705,000 Stock Position in McKesson Co. (NYSE:MCK)

XTX Topco Ltd lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 57.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,979 shares of the company’s stock after selling 2,676 shares during the period. XTX Topco Ltd’s holdings in McKesson were worth $705,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MCK. Covestor Ltd grew its stake in McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares during the period. Carmel Capital Partners LLC bought a new position in McKesson in the first quarter worth approximately $30,000. Live Oak Investment Partners bought a new position in McKesson in the fourth quarter worth approximately $30,000. Machina Capital S.A.S. bought a new position in McKesson in the first quarter worth approximately $33,000. Finally, Ahrens Investment Partners LLC bought a new position in McKesson in the first quarter worth approximately $36,000. Institutional investors and hedge funds own 82.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MCK shares. SpectralCast reiterated a “maintains” rating on shares of McKesson in a report on Thursday, June 29th. Morgan Stanley raised their target price on McKesson from $426.00 to $459.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. UBS Group raised their target price on McKesson from $470.00 to $480.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Credit Suisse Group raised their target price on McKesson from $450.00 to $485.00 and gave the company an “outperform” rating in a report on Friday, August 11th. Finally, Argus raised their target price on McKesson from $430.00 to $450.00 in a report on Thursday, June 29th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $452.33.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,471 shares of McKesson stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $400.00, for a total value of $1,388,400.00. Following the completion of the transaction, the chief executive officer now directly owns 129,714 shares in the company, valued at $51,885,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Brian S. Tyler sold 3,471 shares of McKesson stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $400.00, for a total value of $1,388,400.00. Following the completion of the transaction, the chief executive officer now directly owns 129,714 shares in the company, valued at $51,885,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,938 shares of McKesson stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $422.60, for a total value of $1,664,198.80. Following the completion of the transaction, the chief executive officer now owns 121,838 shares of the company’s stock, valued at $51,488,738.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,227 shares of company stock worth $9,290,486. 0.21% of the stock is owned by corporate insiders.

McKesson Price Performance

NYSE:MCK opened at $420.78 on Friday. The business has a fifty day simple moving average of $417.80 and a two-hundred day simple moving average of $388.73. McKesson Co. has a 1 year low of $331.75 and a 1 year high of $441.00. The company has a market capitalization of $56.76 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.45 and a beta of 0.60.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 2nd. The company reported $7.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.85 by $1.42. McKesson had a negative return on equity of 252.54% and a net margin of 1.32%. The business had revenue of $74.48 billion during the quarter, compared to the consensus estimate of $70.28 billion. During the same period last year, the business posted $5.83 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. As a group, analysts anticipate that McKesson Co. will post 27.17 earnings per share for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given a $0.62 dividend. The ex-dividend date is Thursday, August 31st. This is a boost from McKesson’s previous quarterly dividend of $0.54. This represents a $2.48 annualized dividend and a dividend yield of 0.59%. McKesson’s payout ratio is 9.25%.

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.