McKesson Co. (NYSE:MCK) Shares Acquired by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC raised its holdings in McKesson Co. (NYSE:MCK) by 53.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 315 shares of the company’s stock after buying an additional 110 shares during the quarter. AlphaCentric Advisors LLC’s holdings in McKesson were worth $184,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of McKesson during the 4th quarter valued at $1,024,140,000. Swedbank AB acquired a new position in McKesson during the 1st quarter worth approximately $669,326,000. TD Asset Management Inc boosted its stake in shares of McKesson by 202.8% in the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after purchasing an additional 403,312 shares during the period. Bessemer Group Inc. boosted its holdings in McKesson by 3,621.7% in the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after purchasing an additional 340,007 shares during the last quarter. Finally, Bristol Gate Capital Partners Inc. bought a new position in McKesson during the 1st quarter valued at $97,510,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of McKesson stock traded down $4.68 during midday trading on Monday, hitting $547.47. The company had a trading volume of 554,885 shares, compared to its average volume of 743,246. The stock has a market cap of $71.14 billion, a PE ratio of 24.67, a P/E/G ratio of 1.46 and a beta of 0.45. McKesson Co. has a 1-year low of $404.72 and a 1-year high of $637.51. The business’s 50 day simple moving average is $584.83 and its two-hundred day simple moving average is $554.77.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the previous year, the firm posted $7.27 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts expect that McKesson Co. will post 31.68 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.52%. McKesson’s payout ratio is currently 12.69%.

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 789 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $439,788.60. Following the completion of the transaction, the executive vice president now owns 7,909 shares in the company, valued at approximately $4,408,476.60. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Britt J. Vitalone sold 894 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $498,315.60. Following the sale, the chief financial officer now owns 16,455 shares of the company’s stock, valued at approximately $9,172,017. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas L. Rodgers sold 789 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $439,788.60. Following the transaction, the executive vice president now owns 7,909 shares of the company’s stock, valued at $4,408,476.60. The disclosure for this sale can be found here. Insiders sold a total of 19,257 shares of company stock valued at $11,192,946 over the last ninety days. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research analyst reports. UBS Group raised their price objective on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Mizuho increased their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Argus raised their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Citigroup boosted their price objective on McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Barclays lifted their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $620.29.

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.