Algebris UK Ltd. Takes Position in McKesson Corporation $MCK

Algebris UK Ltd. acquired a new stake in McKesson Corporation (NYSE:MCK) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,655 shares of the company’s stock, valued at approximately $1,278,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IAM Advisory LLC boosted its position in shares of McKesson by 0.3% during the third quarter. IAM Advisory LLC now owns 3,908 shares of the company’s stock worth $3,019,000 after buying an additional 13 shares during the period. PDS Planning Inc raised its holdings in shares of McKesson by 1.1% in the 3rd quarter. PDS Planning Inc now owns 1,209 shares of the company’s stock valued at $934,000 after buying an additional 13 shares during the period. Cardinal Point Capital Management ULC lifted its stake in McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after acquiring an additional 14 shares in the last quarter. Goldstein Advisors LLC lifted its stake in McKesson by 4.4% during the 3rd quarter. Goldstein Advisors LLC now owns 334 shares of the company’s stock worth $258,000 after acquiring an additional 14 shares in the last quarter. Finally, Cypress Wealth Services LLC boosted its holdings in McKesson by 3.7% during the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

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

McKesson Price Performance

Shares of NYSE:MCK opened at $819.69 on Monday. McKesson Corporation has a 1-year low of $570.51 and a 1-year high of $895.58. The stock has a market cap of $101.17 billion, a P/E ratio of 25.51, a P/E/G ratio of 1.35 and a beta of 0.41. The firm has a fifty day moving average price of $831.03 and a 200 day moving average price of $770.38.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Robert W. Baird set a $968.00 price objective on McKesson in a research report on Wednesday, January 14th. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a research note on Monday, December 29th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. Finally, Morgan Stanley boosted their price objective on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $895.79.

McKesson 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.