Edgestream Partners L.P. Grows Stock Holdings in McKesson Corporation (NYSE:MCK)

Edgestream Partners L.P. lifted its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 1,058.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,252 shares of the company's stock after buying an additional 10,281 shares during the period. Edgestream Partners L.P.'s holdings in McKesson were worth $7,572,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC increased its stake in shares of McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company's stock valued at $178,000 after buying an additional 15 shares during the period. Palisade Asset Management LLC grew its stake in shares of McKesson by 2.1% in the first quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock worth $481,000 after purchasing an additional 15 shares during the last quarter. SteelPeak Wealth LLC grew its stake in shares of McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock worth $1,867,000 after purchasing an additional 15 shares during the last quarter. Parallel Advisors LLC increased its holdings in McKesson by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after purchasing an additional 16 shares during the period. Finally, Frank Rimerman Advisors LLC raised its position in McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after purchasing an additional 17 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MCK shares. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Evercore ISI increased their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Mizuho lifted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. UBS Group increased their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $706.83.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the sale, the executive vice president directly owned 2,544 shares of the company's stock, valued at $1,811,785.92. This trade represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 1,248 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president directly owned 2,621 shares in the company, valued at $1,880,043.30. This represents a 32.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock worth $23,526,451 in the last ninety days. Corporate insiders own 0.08% of the company's stock.

McKesson Stock Performance

MCK traded up $6.87 during mid-day trading on Monday, reaching $716.46. 432,463 shares of the stock were exchanged, compared to its average volume of 908,757. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The stock has a market capitalization of $89.64 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48. The company has a 50 day moving average price of $715.67 and a two-hundred day moving average price of $663.30.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. During the same period in the previous year, the company earned $6.18 earnings per share. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. Sell-side 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 was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, June 2nd. McKesson's payout ratio is 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.