McKesson Co. (NYSE:MCK) Holdings Raised by Mainstay Capital Management LLC ADV

Mainstay Capital Management LLC ADV grew its stake in shares of McKesson Co. (NYSE:MCK) by 28.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,052 shares of the company’s stock after purchasing an additional 906 shares during the period. McKesson comprises about 0.4% of Mainstay Capital Management LLC ADV’s holdings, making the stock its 22nd biggest holding. Mainstay Capital Management LLC ADV’s holdings in McKesson were worth $2,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Colonial River Investments LLC lifted its holdings in shares of McKesson by 6.5% during the fourth quarter. Colonial River Investments LLC now owns 1,462 shares of the company’s stock valued at $833,000 after purchasing an additional 89 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in McKesson in the 4th quarter worth about $3,069,000. Howard Capital Management Inc. lifted its stake in McKesson by 4.6% in the 4th quarter. Howard Capital Management Inc. now owns 888 shares of the company’s stock worth $506,000 after acquiring an additional 39 shares in the last quarter. Fisher Funds Management LTD purchased a new stake in McKesson in the 4th quarter worth about $8,295,000. Finally, Pinnacle Financial Partners Inc lifted its stake in McKesson by 9.1% in the 4th quarter. Pinnacle Financial Partners Inc now owns 2,075 shares of the company’s stock worth $1,183,000 after acquiring an additional 173 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

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 stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,307 shares of company stock valued at $6,177,790 in the last 90 days. 0.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCK. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

McKesson Stock Performance

Shares of NYSE MCK opened at $597.68 on Monday. The firm has a market cap of $74.91 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52. The business’s 50-day simple moving average is $589.02 and its 200-day simple moving average is $561.62. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

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

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 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.