Edgestream Partners L.P. Sells 228 Shares of McKesson Co. (NYSE:MCK)

Edgestream Partners L.P. lessened its stake in shares of McKesson Co. (NYSE:MCK) by 19.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 971 shares of the company’s stock after selling 228 shares during the period. Edgestream Partners L.P.’s holdings in McKesson were worth $553,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Assetmark Inc. boosted its stake in McKesson by 10.8% during the 3rd quarter. Assetmark Inc. now owns 6,884 shares of the company’s stock valued at $3,403,000 after purchasing an additional 670 shares during the period. Axxcess Wealth Management LLC boosted its stake in McKesson by 198.7% during the 3rd quarter. Axxcess Wealth Management LLC now owns 2,055 shares of the company’s stock valued at $1,016,000 after purchasing an additional 1,367 shares during the period. Apollon Wealth Management LLC boosted its stake in McKesson by 9.7% during the 3rd quarter. Apollon Wealth Management LLC now owns 7,576 shares of the company’s stock valued at $3,746,000 after purchasing an additional 671 shares during the period. WealthPLAN Partners LLC boosted its stake in McKesson by 4.3% during the 3rd quarter. WealthPLAN Partners LLC now owns 1,421 shares of the company’s stock valued at $702,000 after purchasing an additional 58 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in McKesson by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 320,207 shares of the company’s stock valued at $158,317,000 after purchasing an additional 1,725 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MCK. Wells Fargo & Company increased their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley raised their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Trading Down 1.9 %

Shares of MCK opened at $640.93 on Thursday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $663.61. The stock has a 50 day simple moving average of $605.54 and a 200-day simple moving average of $569.47. The stock has a market cap of $80.32 billion, a PE ratio of 29.35, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. McKesson’s dividend payout ratio is 13.00%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 in the last three months. Corporate insiders own 0.11% 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.