McKesson Corporation (MCK) Shares Sold by Alpine Woods Capital Investors LLC

Alpine Woods Capital Investors LLC lowered its stake in McKesson Corporation (NYSE:MCK) by 40.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,400 shares of the company’s stock after selling 39,200 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in McKesson Corporation were worth $8,971,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MCK. Investment Centers of America Inc. purchased a new stake in McKesson Corporation in the 1st quarter worth $202,000. National Asset Management Inc. lifted its stake in McKesson Corporation by 2.5% in the 1st quarter. National Asset Management Inc. now owns 8,641 shares of the company’s stock worth $1,283,000 after purchasing an additional 212 shares in the last quarter. Redmile Group LLC purchased a new stake in McKesson Corporation in the 1st quarter worth $11,609,000. Canyon Capital Advisors LLC purchased a new stake in McKesson Corporation in the 1st quarter worth $31,128,000. Finally, CNA Financial Corp purchased a new stake in McKesson Corporation in the 1st quarter worth $2,127,000. Institutional investors and hedge funds own 87.50% of the company’s stock.

Shares of McKesson Corporation (NYSE MCK) traded down $0.57 during trading hours on Monday, reaching $142.13. 1,849,000 shares of the company traded hands, compared to its average volume of 1,852,228. The company has a market cap of $29,630.00, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 1.46 and a beta of 1.21. McKesson Corporation has a one year low of $133.82 and a one year high of $169.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61.

McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.94 EPS. analysts predict that McKesson Corporation will post 12.16 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.96%. McKesson Corporation’s dividend payout ratio is currently 6.44%.

Several analysts have recently issued reports on the stock. Credit Suisse Group restated an “underperform” rating and set a $130.00 target price (down from $155.00) on shares of McKesson Corporation in a research report on Thursday, November 9th. Needham & Company LLC restated a “buy” rating and set a $173.00 target price (down from $178.00) on shares of McKesson Corporation in a research report on Wednesday, November 1st. ValuEngine upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, October 31st. Royal Bank Of Canada restated a “hold” rating and set a $170.00 target price on shares of McKesson Corporation in a research report on Friday, October 27th. Finally, Mizuho set a $168.00 target price on shares of McKesson Corporation and gave the company a “hold” rating in a research report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. McKesson Corporation has a consensus rating of “Hold” and a consensus price target of $174.27.

WARNING: This article was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another site, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The legal version of this article can be read at https://www.dispatchtribunal.com/2017/11/20/mckesson-corporation-mck-shares-sold-by-alpine-woods-capital-investors-llc.html.

In other McKesson Corporation news, SVP Erin M. Lampert sold 900 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO John H. Hammergren sold 125,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total transaction of $18,772,500.00. The disclosure for this sale can be found here. Insiders sold a total of 949,900 shares of company stock worth $145,403,445 over the last 90 days. Insiders own 1.20% of the company’s stock.

McKesson Corporation Profile

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

Receive News & Ratings for McKesson Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply