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

Main Street Research LLC boosted its stake in McKesson Co. (NYSE:MCK - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,804 shares of the company's stock after purchasing an additional 1,836 shares during the period. McKesson comprises about 2.4% of Main Street Research LLC's holdings, making the stock its 18th largest holding. Main Street Research LLC owned about 0.05% of McKesson worth $38,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. bought a new position in McKesson in the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC bought a new position in McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust bought a new position in McKesson in the 4th quarter valued at approximately $33,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson in the 4th quarter valued at approximately $44,000. Institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MCK shares. Wells Fargo & Company increased their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research note on Friday, December 13th. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. Finally, Bank of America dropped their price target on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $645.79.

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Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated 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 of the company's stock, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by company insiders.

McKesson Price Performance

NYSE MCK traded down $12.26 during mid-day trading on Wednesday, reaching $640.93. 694,919 shares of the stock were exchanged, compared to its average volume of 819,051. McKesson Co. has a one year low of $464.42 and a one year high of $663.61. The stock has a 50 day simple moving average of $605.54 and a 200-day simple moving average of $569.47. The stock has a market cap of $80.32 billion, a P/E ratio of 29.35, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Sell-side analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared 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 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. 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.