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

Main Street Research LLC decreased its holdings in McKesson Co. (NYSE:MCK) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 100,560 shares of the company’s stock after selling 1,079 shares during the quarter. McKesson makes up 3.7% of Main Street Research LLC’s holdings, making the stock its 5th biggest holding. Main Street Research LLC’s holdings in McKesson were worth $46,619,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Raymond James & Associates grew its position in shares of McKesson by 6.1% in the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after purchasing an additional 8,784 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of McKesson by 6.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after buying an additional 5,425 shares during the period. Insight Wealth Strategies LLC purchased a new position in shares of McKesson during the fourth quarter worth $1,813,000. Aspire Private Capital LLC boosted its position in shares of McKesson by 3.2% during the third quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock worth $851,000 after buying an additional 60 shares during the period. Finally, Argus Investors Counsel Inc. purchased a new position in shares of McKesson during the fourth quarter worth $891,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of several research analyst reports. Morgan Stanley raised their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday. Mizuho increased their price objective on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Barclays initiated coverage on McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target on the stock. Finally, SVB Leerink started coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target on the stock. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $533.50.

Insider Transactions at McKesson

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

McKesson Stock Performance

Shares of NYSE MCK traded up $5.06 during midday trading on Tuesday, reaching $527.74. 169,819 shares of the company’s stock were exchanged, compared to its average volume of 689,477. The stock has a market capitalization of $69.35 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00. The business’s fifty day moving average price is $523.34 and its two-hundred day moving average price is $484.53.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. McKesson’s payout ratio 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.