Alpine Woods Capital Investors LLC Makes New $432,000 Investment in McKesson Corporation $MCK

Alpine Woods Capital Investors LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 590 shares of the company’s stock, valued at approximately $432,000.

Other institutional investors also recently bought and sold shares of the company. GFG Capital LLC purchased a new stake in McKesson during the second quarter worth $30,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Bank of Jackson Hole Trust lifted its position in shares of McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of McKesson in the first quarter valued at $34,000. Finally, Flaharty Asset Management LLC purchased a new stake in shares of McKesson in the first quarter valued at $39,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of NYSE:MCK opened at $768.79 on Tuesday. The firm has a market capitalization of $95.62 billion, a PE ratio of 30.65, a P/E/G ratio of 1.38 and a beta of 0.52. The business has a 50-day moving average of $708.64 and a two-hundred day moving average of $707.37. McKesson Corporation has a 12 month low of $492.39 and a 12 month high of $776.14.

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

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.82 per share. 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 was Tuesday, September 2nd. McKesson’s payout ratio is currently 13.08%.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,189 shares of company stock valued at $16,722,190 over the last 90 days. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCK. UBS Group upped their price objective on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Morgan Stanley upped their price objective on McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Evercore ISI upped their price objective on McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. upped their price objective on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $834.54.

McKesson Company 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.