Main Street Research LLC Purchases 1,836 Shares of McKesson Co. (NYSE:MCK)

Main Street Research LLC grew its position in McKesson Co. (NYSE:MCK) by 2.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 67,804 shares of the company’s stock after acquiring an additional 1,836 shares during the period. McKesson comprises approximately 2.4% of Main Street Research LLC’s portfolio, making the stock its 18th largest position. Main Street Research LLC’s holdings in McKesson were worth $38,690,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MCK. Synergy Asset Management LLC acquired a new stake in McKesson during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the third quarter worth $29,000. Crews Bank & Trust bought a new stake in McKesson in the 4th quarter valued at $33,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the 3rd quarter worth $31,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson in the 4th quarter worth $44,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 in the last three months. 0.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MCK shares. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Evercore ISI lifted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley lifted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Up 0.5 %

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 stock’s 50 day moving average price is $600.67 and its two-hundred day moving average price is $567.55. The firm has a market capitalization of $80.82 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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%. Equities research analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 dividend on an annualized basis and a yield of 0.44%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

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.