AlphaQuest LLC Has $2.48 Million Stock Holdings in McKesson Corporation $MCK

AlphaQuest LLC lifted its position in shares of McKesson Corporation (NYSE:MCK) by 71.2% during the 4th quarter, Holdings Channel reports. The firm owned 3,025 shares of the company’s stock after purchasing an additional 1,258 shares during the quarter. AlphaQuest LLC’s holdings in McKesson were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of McKesson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after purchasing an additional 73,109 shares during the last quarter. State Street Corp increased its stake in shares of McKesson by 0.9% during the 3rd quarter. State Street Corp now owns 5,750,519 shares of the company’s stock worth $4,447,110,000 after purchasing an additional 51,510 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of McKesson by 3.5% during the 3rd quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock worth $2,071,428,000 after purchasing an additional 90,948 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of McKesson by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock worth $1,850,001,000 after purchasing an additional 126,684 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of McKesson by 0.4% during the 3rd quarter. Northern Trust Corp now owns 1,532,856 shares of the company’s stock worth $1,184,193,000 after purchasing an additional 6,613 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 2,725 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. This represents a 45.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.

McKesson Trading Down 1.3%

Shares of McKesson stock opened at $756.11 on Wednesday. The company has a 50 day moving average of $830.95 and a 200-day moving average of $854.59. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The company has a market cap of $90.89 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.14 and a beta of 0.35.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the prior year, the firm posted $10.12 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts forecast that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio is 8.53%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MCK shares. Citigroup lowered their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Barclays upped their price target on shares of McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. JPMorgan Chase & Co. decreased their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, UBS Group upped their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $968.87.

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.