Integrity Alliance LLC. Buys Shares of 344 McKesson Corporation $MCK

Integrity Alliance LLC. bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 344 shares of the company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its position in McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares in the last quarter. Northern Trust Corp raised its position in McKesson by 0.7% during the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after purchasing an additional 10,179 shares in the last quarter. Boston Partners raised its position in McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after purchasing an additional 365,484 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in McKesson by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock valued at $868,237,000 after purchasing an additional 107,638 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in McKesson by 16.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock valued at $864,712,000 after purchasing an additional 181,831 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

Shares of MCK stock opened at $711.32 on Friday. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89. The stock’s fifty day moving average price is $697.81 and its 200 day moving average price is $694.47. The company has a market cap of $88.48 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. During the same quarter last year, the firm earned $7.88 earnings per share. The firm’s quarterly revenue was up 23.4% compared to the same quarter last year. As a group, equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.5%. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MCK. Wells Fargo & Company boosted their price target on McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 13th. Morgan Stanley reissued an “overweight” rating and issued a $810.00 price target (up from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Cowen reissued a “buy” rating on shares of McKesson in a research report on Thursday, August 7th. Evercore ISI boosted their price target on McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $725.10.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 19,371 shares of the business’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the sale, the chief executive officer owned 27,872 shares in the company, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,560 shares of company stock worth $30,438,602. 0.08% of the stock is owned by company insiders.

About McKesson

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.