Alta Capital Management LLC Takes Position in McKesson Corporation $MCK

Alta Capital Management LLC acquired a new stake in shares of McKesson Corporation (NYSE:MCK) during the 4th quarter, Holdings Channel reports. The firm acquired 12,765 shares of the company’s stock, valued at approximately $10,471,000.

Several other institutional investors have also recently made changes to their positions in the stock. J.W. Cole Advisors Inc. increased its position in shares of McKesson by 35.3% during the third quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock worth $3,931,000 after acquiring an additional 1,329 shares in the last quarter. Cullen Investment Group LTD. increased its position in shares of McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after acquiring an additional 3,952 shares in the last quarter. Private Wealth Partners LLC increased its position in shares of McKesson by 5.6% during the third quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock worth $24,598,000 after acquiring an additional 1,682 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of McKesson by 12.4% during the third quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock worth $255,438,000 after acquiring an additional 36,451 shares in the last quarter. Finally, AlphaQuest LLC increased its position in shares of McKesson by 91.2% during the third quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock worth $1,365,000 after acquiring an additional 843 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, Director Maria Martinez sold 349 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the sale, the director directly owned 301 shares in the company, valued at approximately $282,900.87. This represents a 53.69% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michele Lau sold 2,725 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the sale, the executive vice president owned 3,247 shares in the company, valued at $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Up 1.9%

MCK opened at $775.38 on Tuesday. The stock has a market cap of $93.20 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.13 and a beta of 0.35. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The company’s 50-day moving average price is $851.72 and its two-hundred day moving average price is $857.32.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts anticipate that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of McKesson in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $966.00 price objective on shares of McKesson in a research report on Thursday, January 29th. Finally, Mizuho upped their price objective on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

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.