Two Sigma Advisers LP Has $11.27 Million Stake in McKesson Co. (NYSE:MCK)

Two Sigma Advisers LP reduced its stake in McKesson Co. (NYSE:MCK - Free Report) by 84.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,800 shares of the company's stock after selling 124,800 shares during the period. Two Sigma Advisers LP's holdings in McKesson were worth $11,273,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. RFP Financial Group LLC lifted its holdings in McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company's stock valued at $112,000 after acquiring an additional 17 shares during the period. Modera Wealth Management LLC lifted its holdings in McKesson by 2.2% in the second quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock valued at $470,000 after acquiring an additional 17 shares during the period. Larson Financial Group LLC lifted its holdings in McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $639,000 after acquiring an additional 17 shares during the period. Lester Murray Antman dba SimplyRich lifted its holdings in McKesson by 0.4% in the second quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company's stock valued at $2,935,000 after acquiring an additional 19 shares during the period. Finally, Black Diamond Financial LLC lifted its holdings in McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock valued at $754,000 after acquiring an additional 19 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares of the company's stock, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Evercore ISI lifted their price target on McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. Finally, StockNews.com raised shares of McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and a consensus target price of $635.86.

McKesson Price Performance

Shares of MCK stock traded down $7.94 on Tuesday, hitting $583.96. 703,918 shares of the stock traded hands, compared to its average volume of 817,266. The company has a market capitalization of $74.13 billion, a PE ratio of 30.24, a PEG ratio of 1.30 and a beta of 0.49. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The company's fifty day moving average is $556.78 and its 200 day moving average is $562.15.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the business earned $6.23 EPS. The firm's revenue was up 21.3% on a year-over-year basis. As a group, equities research analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.49%. McKesson's dividend payout ratio is currently 14.71%.

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.