AlphaQuest LLC Sells 1,642 Shares of McKesson Corporation $MCK

AlphaQuest LLC lowered its stake in McKesson Corporation (NYSE:MCK) by 64.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 924 shares of the company’s stock after selling 1,642 shares during the quarter. AlphaQuest LLC’s holdings in McKesson were worth $677,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC raised its stake in shares of McKesson by 22.0% in the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after buying an additional 68,294 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in McKesson during the 1st quarter valued at approximately $289,000. Archford Capital Strategies LLC raised its stake in McKesson by 151.8% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after purchasing an additional 1,372 shares during the period. LPL Financial LLC raised its stake in McKesson by 12.8% during the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after purchasing an additional 17,750 shares during the period. Finally, Focus Partners Wealth raised its stake in McKesson by 3.3% during the 1st quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock valued at $48,159,000 after purchasing an additional 2,283 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of McKesson stock opened at $811.69 on Tuesday. The stock has a market cap of $100.96 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52. The stock has a 50 day moving average price of $731.79 and a 200-day moving average price of $715.51. McKesson Corporation has a one year low of $492.39 and a one year high of $811.86.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter last year, the firm posted $7.88 EPS. Sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued 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 was Tuesday, September 2nd. This is an increase from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Mizuho lifted their target price on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Wells Fargo & Company lifted their target price on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. Leerink Partners lifted their target price on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. UBS Group lifted their target price on McKesson from $860.00 to $920.00 and gave the company a “buy” rating in a research note on Monday. Finally, Citigroup raised their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $839.15.

McKesson Profile

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.