Alpine Woods Capital Investors LLC Sells 400 Shares of McKesson (MCK)

Alpine Woods Capital Investors LLC reduced its holdings in McKesson (NYSE:MCK) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,800 shares of the company’s stock after selling 400 shares during the period. Alpine Woods Capital Investors LLC’s holdings in McKesson were worth $8,143,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Boston Partners increased its stake in McKesson by 122.4% in the 1st quarter. Boston Partners now owns 4,036,373 shares of the company’s stock valued at $568,604,000 after buying an additional 2,221,241 shares during the last quarter. Vulcan Value Partners LLC increased its stake in McKesson by 9.2% in the 4th quarter. Vulcan Value Partners LLC now owns 3,612,389 shares of the company’s stock valued at $563,352,000 after buying an additional 305,492 shares during the last quarter. Bank of New York Mellon Corp increased its stake in McKesson by 6.2% in the 4th quarter. Bank of New York Mellon Corp now owns 2,697,323 shares of the company’s stock valued at $420,648,000 after buying an additional 157,018 shares during the last quarter. Pzena Investment Management LLC increased its stake in McKesson by 1.4% in the 1st quarter. Pzena Investment Management LLC now owns 2,635,648 shares of the company’s stock valued at $371,284,000 after buying an additional 35,247 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in McKesson by 1.5% in the 4th quarter. Alliancebernstein L.P. now owns 2,450,313 shares of the company’s stock valued at $382,126,000 after buying an additional 37,023 shares during the last quarter. Hedge funds and other institutional investors own 89.99% of the company’s stock.

Several brokerages have issued reports on MCK. Needham & Company LLC lifted their price target on shares of McKesson from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Mizuho set a $186.00 price target on shares of McKesson and gave the company a “hold” rating in a research note on Wednesday, January 24th. Jefferies Group upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a research note on Wednesday, January 24th. Credit Suisse Group restated a “sell” rating and set a $130.00 price objective on shares of McKesson in a research note on Friday, February 2nd. Finally, Zacks Investment Research upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $189.00 price objective on the stock in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $176.32.

McKesson stock opened at $150.99 on Friday. The stock has a market cap of $30.87 billion, a PE ratio of 13.01, a PEG ratio of 1.37 and a beta of 1.31. McKesson has a fifty-two week low of $149.05 and a fifty-two week high of $150.94. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 1st will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, May 31st. McKesson’s payout ratio is 11.71%.

In related news, SVP Erin M. Lampert sold 1,413 shares of McKesson stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $149.38, for a total transaction of $211,073.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes branded and generic pharmaceutical drugs, and other healthcare-related products; and provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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