McKesson Co. (NYSE:MCK) Stock Holdings Trimmed by Main Street Research LLC

Main Street Research LLC lessened its position in shares of McKesson Co. (NYSE:MCK) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,560 shares of the company’s stock after selling 1,079 shares during the quarter. McKesson comprises approximately 3.7% of Main Street Research LLC’s portfolio, making the stock its 5th largest position. Main Street Research LLC owned about 0.08% of McKesson worth $46,619,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Covestor Ltd grew its stake in McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares during the period. OFI Invest Asset Management bought a new stake in shares of McKesson during the 3rd quarter valued at about $26,000. Legacy Financial Group LLC acquired a new position in McKesson during the 3rd quarter valued at about $27,000. Live Oak Investment Partners acquired a new position in McKesson during the 4th quarter valued at about $30,000. Finally, BKM Wealth Management LLC acquired a new position in McKesson during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCK has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Barclays initiated coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target for the company. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. UBS Group upped their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Argus boosted their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Stock Up 1.0 %

McKesson stock traded up $5.06 during mid-day trading on Tuesday, reaching $527.74. The company had a trading volume of 169,819 shares, compared to its average volume of 689,477. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00. The firm has a market cap of $69.35 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.42 and a beta of 0.45. The company has a 50 day moving average of $523.34 and a 200-day moving average of $484.53.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the prior year, the company posted $6.90 EPS. The business’s revenue was up 14.8% on a year-over-year basis. On average, analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

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.