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

Edgestream Partners L.P. reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 61.9% during the 2nd quarter, according to its most recent Form 13F 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.

Other hedge funds also recently added to or reduced their stakes in the company. Solstein Capital LLC grew its holdings in shares of McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the period. GFG Capital LLC purchased a new stake in McKesson during the second quarter worth $30,000. Saudi Central Bank purchased a new stake in McKesson during the first quarter worth $34,000. Flaharty Asset Management LLC acquired a new stake in McKesson in the first quarter valued at $39,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of McKesson in the second quarter valued at $39,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK opened at $813.61 on Friday. McKesson Corporation has a 1 year low of $558.13 and a 1 year high of $895.58. The company’s 50 day simple moving average is $814.51 and its 200 day simple moving average is $744.37. The company has a market capitalization of $100.42 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.33 and a beta of 0.38.

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

McKesson Dividend Announcement

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

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on MCK shares. Cowen reiterated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. TD Cowen upped their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley increased their price target on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Mizuho lifted their price objective on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, Robert W. Baird increased their target price on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $887.69.

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.