AlphaStar Capital Management LLC Decreases Holdings in McKesson Co. (NYSE:MCK)

AlphaStar Capital Management LLC decreased its holdings in McKesson Co. (NYSE:MCK) by 21.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 351 shares of the company’s stock after selling 94 shares during the period. AlphaStar Capital Management LLC’s holdings in McKesson were worth $205,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Sachetta LLC purchased a new stake in McKesson during the fourth quarter valued at about $27,000. LRI Investments LLC bought a new position in McKesson during the 1st quarter worth approximately $28,000. Register Financial Advisors LLC purchased a new position in McKesson in the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in McKesson in the fourth quarter valued at approximately $31,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of McKesson by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. Citigroup lifted their target price on shares of McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. UBS Group upped their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Wells Fargo & Company raised their target price on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 9th. TD Cowen upped their price target on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $620.29.

McKesson Stock Up 0.6 %

Shares of MCK stock opened at $550.72 on Wednesday. The stock has a market cap of $71.56 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 1.46 and a beta of 0.45. The business’s fifty day moving average is $583.78 and its 200 day moving average is $555.13. McKesson Co. has a twelve month low of $404.72 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the prior year, the firm earned $7.27 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts expect that McKesson Co. will post 31.68 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.52%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the sale, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the sale, the executive vice president now owns 2,022 shares in the company, valued at $1,183,941.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the transaction, the chief executive officer now owns 89,845 shares in the company, valued at $51,607,866.45. The disclosure for this sale can be found here. Insiders have sold a total of 17,574 shares of company stock valued at $10,254,842 in the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

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.