New Age Alpha Advisors LLC Sells 420 Shares of McKesson Corporation (NYSE:MCK)

Key Points

• New Age Alpha Advisors LLC reduced its stake in McKesson Corporation by 19.8%, selling 420 shares in the first quarter, bringing its total holdings down to 1,704 shares valued at approximately $1,147,000.
• McKesson announced an increase in its quarterly dividend to $0.82 per share, up from the previous $0.71, with a payout date scheduled for October 1st.
• Wall Street analysts have given McKesson a consensus rating of "Moderate Buy" with an average price target of $710.17, and recent ratings changes include a downgrade to "buy" from "strong-buy".

New Age Alpha Advisors LLC decreased its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,704 shares of the company's stock after selling 420 shares during the quarter. New Age Alpha Advisors LLC's holdings in McKesson were worth $1,147,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MCK. CBIZ Investment Advisory Services LLC raised its position in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of McKesson during the fourth quarter worth $26,000. Bank of Jackson Hole Trust raised its position in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after acquiring an additional 18 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of McKesson by 1,840.0% during the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock worth $67,000 after acquiring an additional 92 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of McKesson during the fourth quarter worth $76,000. Institutional investors own 85.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MCK. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Wells Fargo & Company set a $766.00 target price on McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Morgan Stanley restated an "overweight" rating and set a $810.00 target price (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Cowen reaffirmed a "buy" rating on shares of McKesson in a research note on Thursday. Finally, Evercore ISI lifted their price objective on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and an average price target of $710.17.

Insider Transactions at McKesson

In other news, CFO Britt J. Vitalone sold 6,336 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the sale, the chief financial officer directly owned 14,760 shares in the company, valued at $10,587,348. The trade was a 30.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the business's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the sale, the chief executive officer owned 27,872 shares in the company, valued at approximately $19,735,884.48. This trade represents a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,488 shares of company stock valued at $37,242,862. Insiders own 0.08% of the company's stock.

McKesson Trading Down 5.6%

NYSE:MCK opened at $664.10 on Friday. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The stock has a market cap of $83.09 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 1.42 and a beta of 0.50. The stock has a 50-day moving average price of $715.17 and a two-hundred day moving average price of $678.53.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 180.77%. The business had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same period in the previous year, the firm posted $7.88 earnings per share. The firm's revenue was up 23.4% on a year-over-year basis. Sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. McKesson's payout ratio is presently 10.99%.

McKesson 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.

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