AlphaStar Capital Management LLC Invests $203,000 in McKesson Co. (NYSE:MCK)

AlphaStar Capital Management LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 357 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds have also bought and sold shares of the business. Cibc World Market Inc. raised its stake in shares of McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after purchasing an additional 1,207 shares during the period. Commerce Bank increased its holdings in McKesson by 2.0% during the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after buying an additional 3,020 shares during the last quarter. West Oak Capital LLC raised its position in McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after acquiring an additional 2,690 shares during the period. Brentview Investment Management LLC purchased a new position in McKesson in the fourth quarter valued at about $3,018,000. Finally, Nordea Investment Management AB grew its position in shares of McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after acquiring an additional 162,688 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $595.77 on Monday. The stock has a market cap of $75.63 billion, a P/E ratio of 27.28, a PEG ratio of 1.30 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm’s fifty day moving average price is $588.40 and its 200-day moving average price is $562.74.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Sell-side analysts predict that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s dividend payout ratio is presently 13.00%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. Evercore ISI upped their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $645.79.

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.