McKesson Corporation $MCK Shares Purchased by AlphaQuest LLC

AlphaQuest LLC grew its position in shares of McKesson Corporation (NYSE:MCK) by 91.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. CW Advisors LLC lifted its stake in McKesson by 282.5% during the second quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock worth $8,067,000 after purchasing an additional 8,130 shares during the last quarter. Voya Investment Management LLC raised its holdings in McKesson by 11.9% during the third quarter. Voya Investment Management LLC now owns 598,880 shares of the company’s stock worth $462,126,000 after purchasing an additional 63,621 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in shares of McKesson by 54.4% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,913 shares of the company’s stock worth $3,023,000 after buying an additional 1,378 shares during the last quarter. Motco boosted its holdings in shares of McKesson by 50,389.7% in the 3rd quarter. Motco now owns 14,642 shares of the company’s stock valued at $11,312,000 after buying an additional 14,613 shares in the last quarter. Finally, Generate Investment Management Ltd grew its position in shares of McKesson by 138.4% in the 3rd quarter. Generate Investment Management Ltd now owns 20,267 shares of the company’s stock valued at $15,657,000 after buying an additional 11,765 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In related 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 completion of the transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total value of $225,265.68. Following the completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at $1,851,096.24. This represents a 10.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.08% of the company’s stock.

McKesson Stock Up 1.1%

MCK opened at $831.32 on Friday. McKesson Corporation has a 52 week low of $570.51 and a 52 week high of $895.58. The business has a 50 day moving average price of $828.09 and a two-hundred day moving average price of $774.00. The company has a market cap of $102.61 billion, a PE ratio of 25.87, a P/E/G ratio of 1.35 and a beta of 0.41.

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

McKesson Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCK. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Barclays started coverage on McKesson in a report on Monday, December 8th. They issued an “overweight” rating and a $960.00 target price for the company. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a research report on Monday, December 29th. Wells Fargo & Company lifted their price target on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Finally, UBS Group increased their price objective on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $899.36.

About McKesson

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.