Y Intercept Hong Kong Ltd Sells 6,176 Shares of McKesson Corporation $MCK

Y Intercept Hong Kong Ltd reduced its stake in McKesson Corporation (NYSE:MCK) by 60.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,053 shares of the company’s stock after selling 6,176 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in McKesson were worth $3,131,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of McKesson in the second quarter valued at approximately $1,346,661,000. Alliancebernstein L.P. raised its holdings in McKesson by 150.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after acquiring an additional 1,362,386 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of McKesson by 56.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock valued at $906,109,000 after acquiring an additional 446,060 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of McKesson by 45.6% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock worth $610,977,000 after purchasing an additional 261,296 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of McKesson by 68.0% in the second quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock worth $466,441,000 after purchasing an additional 257,670 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at approximately $1,851,096.24. This represents a 10.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.08% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $828.96 on Tuesday. McKesson Corporation has a 1 year low of $570.51 and a 1 year high of $895.58. The business’s 50-day moving average is $830.45 and its 200-day moving average is $771.16. The company has a market capitalization of $102.32 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 1.35 and a beta of 0.41.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.07 earnings per share. Analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a $0.82 dividend. The ex-dividend date was Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays started coverage on shares of McKesson in a research note on Monday, December 8th. They set an “overweight” rating and a $960.00 price objective on the stock. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Robert W. Baird set a $968.00 target price on McKesson in a report on Wednesday, January 14th. Evercore ISI restated an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $895.79.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.