Alyeska Investment Group L.P. Takes Position in McKesson Corporation $MCK

Alyeska Investment Group L.P. acquired a new stake in McKesson Corporation (NYSE:MCK) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 50,883 shares of the company’s stock, valued at approximately $34,244,000.

Other large investors have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC boosted its holdings in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. Capital A Wealth Management LLC purchased a new stake in shares of McKesson in the 4th quarter valued at $26,000. Bank of Jackson Hole Trust boosted its holdings in shares of McKesson by 64.3% in the 1st 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 during the last quarter. Saudi Central Bank purchased a new stake in shares of McKesson in the 1st quarter valued at $34,000. Finally, Pandora Wealth Inc. purchased a new stake in shares of McKesson in the 1st quarter valued at $40,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MCK. Morgan Stanley reissued an “overweight” rating and set a $810.00 price target (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Cowen reissued a “buy” rating on shares of McKesson in a report on Thursday, August 7th. Evercore ISI increased their price target on shares of McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company increased their price target on shares of McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $725.10.

McKesson Stock Performance

NYSE:MCK opened at $690.13 on Thursday. The company has a fifty day moving average of $700.53 and a two-hundred day moving average of $689.24. The stock has a market capitalization of $85.84 billion, a PE ratio of 27.52, a P/E/G ratio of 1.37 and a beta of 0.51. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89.

McKesson (NYSE:MCK) last posted 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). The company 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.88 earnings per share. Research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is currently 13.08%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, August 8th. The shares were 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 owned 657 shares of the company’s stock, valued at $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. Insiders sold 62,930 shares of company stock valued at $44,112,466 over the last quarter. Company insiders own 0.08% of the company’s stock.

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.