Lodestar Private Asset Management LLC Decreases Stock Position in McKesson Corporation $MCK

Lodestar Private Asset Management LLC cut its holdings in McKesson Corporation (NYSE:MCK) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 583 shares of the company’s stock after selling 50 shares during the period. Lodestar Private Asset Management LLC’s holdings in McKesson were worth $427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares in the last quarter. GAMMA Investing LLC lifted its holdings in McKesson by 12.5% in the 1st quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock valued at $2,393,000 after purchasing an additional 396 shares in the last quarter. Focus Financial Network Inc. purchased a new position in McKesson in the 1st quarter valued at about $202,000. NorthCrest Asset Manangement LLC lifted its holdings in McKesson by 71.1% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 727 shares of the company’s stock valued at $489,000 after purchasing an additional 302 shares in the last quarter. Finally, CVA Family Office LLC lifted its holdings in McKesson by 6.0% in the 1st quarter. CVA Family Office LLC now owns 265 shares of the company’s stock valued at $178,000 after purchasing an additional 15 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Bank of America upped their target price on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Evercore ISI upped their target price on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, UBS Group increased their price objective on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $829.08.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 11,930 shares of the 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the 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 sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,189 shares of company stock valued at $16,722,190. Corporate insiders own 0.08% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $763.89 on Monday. The firm has a market cap of $95.01 billion, a P/E ratio of 30.46, a PEG ratio of 1.38 and a beta of 0.52. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $776.14. The firm’s 50-day simple moving average is $707.48 and its 200-day simple moving average is $706.67.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.88 earnings per share. Analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.82 per share. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 13.08%.

McKesson Company 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.