AlphaCore Capital LLC Buys 397 Shares of McKesson Co. (NYSE:MCK)

AlphaCore Capital LLC lifted its position in McKesson Co. (NYSE:MCK) by 21.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,285 shares of the company’s stock after purchasing an additional 397 shares during the period. AlphaCore Capital LLC’s holdings in McKesson were worth $1,131,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Swedbank AB purchased a new stake in McKesson during the 1st quarter valued at $669,326,000. International Assets Investment Management LLC boosted its holdings in shares of McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after purchasing an additional 734,849 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in McKesson by 581.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock valued at $74,776,000 after purchasing an additional 129,031 shares during the period. Finally, American Century Companies Inc. increased its holdings in McKesson by 134.6% during the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock valued at $128,850,000 after purchasing an additional 126,567 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MCK shares. Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company dropped their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. JPMorgan Chase & Co. lifted their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $631.57.

McKesson Stock Performance

NYSE MCK opened at $628.15 on Friday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock has a 50-day moving average of $528.89 and a 200 day moving average of $556.74. The company has a market capitalization of $79.74 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities analysts predict that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. McKesson’s dividend payout ratio is currently 14.71%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% 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.