McKesson Corporation $MCK Shares Acquired by AlphaQuest LLC

AlphaQuest LLC lifted its stake in McKesson Corporation (NYSE:MCK) by 91.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,767 shares of the company’s stock after purchasing an additional 843 shares during the period. AlphaQuest LLC’s holdings in McKesson were worth $1,365,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Solstein Capital LLC grew its holdings in shares of McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the period. State of Wyoming acquired a new stake in McKesson in the second quarter valued at $29,000. GFG Capital LLC acquired a new stake in McKesson in the second quarter valued at $30,000. Delos Wealth Advisors LLC purchased a new position in shares of McKesson in the second quarter valued at $35,000. Finally, Abound Wealth Management raised its stake in shares of McKesson by 104.3% during the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MCK shares. Robert W. Baird set a $968.00 price objective on shares of McKesson in a research note on Wednesday, January 14th. Zacks Research cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Weiss Ratings restated a “buy (a-)” rating on shares of McKesson in a research report on Monday, December 29th. Barclays began coverage on McKesson in a report on Monday, December 8th. They set an “overweight” rating and a $960.00 target price on the stock. Finally, Evercore ISI reissued an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $899.36.

McKesson Stock Performance

MCK stock opened at $831.32 on Friday. The company has a 50 day moving average price of $828.09 and a two-hundred day moving average price of $774.00. The stock has a market capitalization of $102.61 billion, a P/E ratio of 25.87, a PEG ratio of 1.35 and a beta of 0.41. McKesson Corporation has a one year low of $570.51 and a one year high of $895.58.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $7.07 earnings per share. Research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $0.82 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is 10.21%.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This represents a 50.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. This represents a 10.85% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.08% of the company’s stock.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.