Main Street Research LLC Has $38.69 Million Stake in McKesson Co. (NYSE:MCK)

Main Street Research LLC grew its holdings in McKesson Co. (NYSE:MCK) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,804 shares of the company’s stock after purchasing an additional 1,836 shares during the quarter. McKesson comprises 2.4% of Main Street Research LLC’s portfolio, making the stock its 18th biggest holding. Main Street Research LLC owned approximately 0.05% of McKesson worth $38,690,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Old North State Trust LLC boosted its holdings in McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after purchasing an additional 18 shares during the period. Trust Co. of Vermont raised its position in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after buying an additional 18 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after buying an additional 18 shares during the period. Black Diamond Financial LLC grew its position in McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after buying an additional 19 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its stake in McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after acquiring an additional 20 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.5 %

Shares of NYSE MCK opened at $644.92 on Monday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $653.92. The firm’s 50-day simple moving average is $600.67 and its 200 day simple moving average is $567.55. The company has a market cap of $80.82 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

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

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is 13.00%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock worth $11,187,351 over the last three months. 0.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MCK has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Morgan Stanley raised their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Citigroup cut their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $645.79.

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.