McKesson Corporation $MCK Shares Sold by Alpine Bank Wealth Management

Alpine Bank Wealth Management decreased its position in McKesson Corporation (NYSE:MCK) by 29.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119 shares of the company’s stock after selling 50 shares during the quarter. Alpine Bank Wealth Management’s holdings in McKesson were worth $87,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Northern Trust Corp raised its holdings in shares of McKesson by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after buying an additional 10,179 shares during the period. Boston Partners boosted its holdings 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 acquiring an additional 365,484 shares during the period. Price T Rowe Associates Inc. MD grew its position in McKesson by 9.1% in 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 acquiring an additional 107,638 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in McKesson by 16.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock worth $864,712,000 after purchasing an additional 181,831 shares during the period. Finally, Invesco Ltd. lifted its position in shares of McKesson by 0.7% during the first quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock worth $714,543,000 after purchasing an additional 7,108 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on MCK shares. Cowen restated a “buy” rating on shares of McKesson in a report 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 report on Wednesday, September 24th. UBS Group boosted their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Evercore ISI increased their price target on McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Finally, TD Cowen boosted their price objective on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $829.08.

Insider Activity

In other news, CEO Brian S. Tyler sold 19,371 shares of McKesson 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’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 completion of the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,560 shares of company stock worth $30,438,602. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Up 0.2%

MCK stock opened at $762.22 on Tuesday. The business has a 50 day moving average price of $698.81 and a 200 day moving average price of $700.77. The stock has a market cap of $94.80 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 1.36 and a beta of 0.51. McKesson Corporation has a fifty-two week low of $480.39 and a fifty-two week high of $770.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same period in the previous year, the business posted $7.88 EPS. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 2nd. McKesson’s payout ratio is currently 13.08%.

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.