McKesson Corporation $MCK Shares Sold by Peachtree Investment Partners LLC

Peachtree Investment Partners LLC trimmed its holdings in shares of McKesson Corporation (NYSE:MCK) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,109 shares of the company’s stock after selling 1,078 shares during the period. McKesson makes up about 3.5% of Peachtree Investment Partners LLC’s portfolio, making the stock its 9th biggest position. Peachtree Investment Partners LLC’s holdings in McKesson were worth $10,128,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in McKesson during the second quarter worth $1,346,661,000. Alliancebernstein L.P. raised its holdings in shares of McKesson by 150.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after buying an additional 1,362,386 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in McKesson by 56.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after acquiring an additional 446,060 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in McKesson by 45.6% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock valued at $610,977,000 after acquiring an additional 261,296 shares during the period. Finally, Acadian Asset Management LLC increased its stake in McKesson by 68.0% during the second quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock worth $466,441,000 after purchasing an additional 257,670 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were 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 directly owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the transaction, the executive vice president owned 2,268 shares in the company, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Up 0.3%

McKesson stock opened at $819.69 on Friday. The firm has a market capitalization of $101.17 billion, a PE ratio of 25.51, a P/E/G ratio of 1.34 and a beta of 0.41. The firm’s 50-day simple moving average is $831.03 and its 200 day simple moving average is $769.75. McKesson Corporation has a 52 week low of $570.51 and a 52 week high of $895.58.

McKesson (NYSE:MCK) last announced its 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 net margin of 1.04% and a negative return on equity of 248.14%. The firm had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the previous year, the company posted $7.07 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s dividend payout ratio is presently 10.21%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research cut McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Morgan Stanley increased their price objective on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Evercore ISI reissued an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Finally, Wells Fargo & Company lifted their price objective on McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $895.79.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.