Holocene Advisors LP Sells 205,306 Shares of McKesson Corporation $MCK

Holocene Advisors LP trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 35.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,025 shares of the company’s stock after selling 205,306 shares during the period. Holocene Advisors LP owned approximately 0.31% of McKesson worth $278,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. Norges Bank bought a new position in McKesson during the second quarter valued at $1,346,661,000. Alliancebernstein L.P. raised its position in shares of McKesson by 150.4% during 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 in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of McKesson by 56.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock valued at $906,109,000 after buying an additional 446,060 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of McKesson by 4,559.6% in the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock valued at $287,840,000 after acquiring an additional 418,524 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in McKesson by 92.3% during the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after acquiring an additional 312,473 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Down 0.2%

Shares of McKesson stock opened at $814.16 on Friday. The stock’s fifty day moving average price is $820.19 and its 200-day moving average price is $748.12. The firm has a market cap of $100.49 billion, a P/E ratio of 25.34, a P/E/G ratio of 1.34 and a beta of 0.38. McKesson Corporation has a 12 month low of $558.13 and a 12 month high of $895.58.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping 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 company had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same period in the prior year, the business earned $7.07 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 10.21%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Zacks Research cut McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. TD Cowen lifted their price objective on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a research report on Monday. Barclays assumed coverage on shares of McKesson in a report on Monday. They issued an “overweight” rating and a $960.00 target price for the company. Finally, Jefferies Financial Group upped their price target on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $892.86.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.08% 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.