McKesson Corporation $MCK Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its position in McKesson Corporation (NYSE:MCK) by 61.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,285 shares of the company’s stock after selling 6,967 shares during the quarter. Edgestream Partners L.P.’s holdings in McKesson were worth $3,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares in the last quarter. Cary Street Partners Financial LLC lifted its position in McKesson by 643.9% during the first quarter. Cary Street Partners Financial LLC now owns 1,406 shares of the company’s stock valued at $946,000 after buying an additional 1,217 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in McKesson by 81.0% during the first quarter. Westwood Holdings Group Inc. now owns 6,110 shares of the company’s stock worth $4,112,000 after buying an additional 2,735 shares during the period. Intrust Bank NA grew its stake in McKesson by 6.4% during the first quarter. Intrust Bank NA now owns 484 shares of the company’s stock worth $326,000 after buying an additional 29 shares during the period. Finally, Hemington Wealth Management increased its position in shares of McKesson by 23.5% in the first quarter. Hemington Wealth Management now owns 142 shares of the company’s stock worth $95,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Robert W. Baird raised their price objective on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Citigroup increased their target price on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Morgan Stanley raised their target price on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $887.69.

McKesson Price Performance

NYSE:MCK opened at $813.61 on Friday. The firm has a 50-day moving average of $814.51 and a two-hundred day moving average of $744.37. The stock has a market cap of $100.42 billion, a P/E ratio of 25.32, a PEG ratio of 1.33 and a beta of 0.38. McKesson Corporation has a 1-year low of $558.13 and a 1-year high of $895.58.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio is presently 10.21%.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.08% of the company’s stock.

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.