Mainstay Capital Management LLC ADV Boosts Holdings in McKesson Co. (NYSE:MCK)

Mainstay Capital Management LLC ADV raised its holdings in McKesson Co. (NYSE:MCK) by 28.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,052 shares of the company’s stock after buying an additional 906 shares during the quarter. McKesson makes up approximately 0.4% of Mainstay Capital Management LLC ADV’s holdings, making the stock its 22nd largest holding. Mainstay Capital Management LLC ADV’s holdings in McKesson were worth $2,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the 3rd quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the 3rd quarter worth about $31,000. Synergy Asset Management LLC purchased a new position in McKesson in the 4th quarter worth approximately $32,000. Crews Bank & Trust purchased a new position in McKesson in the 4th quarter worth approximately $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,307 shares of company stock valued at $6,177,790. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

McKesson Price Performance

Shares of NYSE MCK opened at $597.68 on Monday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The business’s fifty day moving average price is $589.02 and its two-hundred day moving average price is $561.62. The firm has a market capitalization of $74.91 billion, a PE ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s payout ratio is 13.00%.

About McKesson

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.