McKesson Corporation $MCK Shares Sold by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC lessened its holdings in McKesson Corporation (NYSE:MCK) by 11.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,447 shares of the company’s stock after selling 1,676 shares during the period. Freestone Capital Holdings LLC’s holdings in McKesson were worth $9,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Solstein Capital LLC lifted its position in shares of McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. Bank of Jackson Hole Trust lifted its position in McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its position in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. GFG Capital LLC purchased a new stake in McKesson in the second quarter valued at $30,000. Finally, Saudi Central Bank purchased a new stake in McKesson in the first quarter valued at $34,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,189 shares of company stock valued at $16,722,190 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Down 1.6%

Shares of McKesson stock opened at $811.96 on Monday. The firm has a market cap of $100.99 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 1.46 and a beta of 0.52. McKesson Corporation has a 52-week low of $498.32 and a 52-week high of $846.32. The company’s 50-day simple moving average is $741.39 and its 200-day simple moving average is $719.17.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. During the same period in the prior year, the firm posted $7.88 EPS. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. Equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 13.08%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of McKesson from $860.00 to $920.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Leerink Partners lifted their price objective on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Evercore ISI lifted their price objective on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. lifted their price objective on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $839.15.

About McKesson

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.