Main Street Research LLC Has $50.74 Million Position in McKesson Corporation $MCK

Main Street Research LLC increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,178 shares of the company’s stock after acquiring an additional 522 shares during the quarter. McKesson comprises 3.2% of Main Street Research LLC’s portfolio, making the stock its 12th biggest holding. Main Street Research LLC’s holdings in McKesson were worth $50,741,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings in shares of McKesson by 22.0% during the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after buying an additional 68,294 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of McKesson during the first quarter worth $289,000. Archford Capital Strategies LLC lifted its holdings in shares of McKesson by 151.8% during the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock worth $1,668,000 after buying an additional 1,372 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of McKesson by 12.8% during the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock worth $104,950,000 after buying an additional 17,750 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of McKesson by 3.3% during the first quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock worth $48,159,000 after buying an additional 2,283 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

NYSE:MCK opened at $843.19 on Wednesday. The stock has a fifty day moving average price of $747.47 and a 200-day moving average price of $721.07. The company has a market cap of $104.88 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 1.46 and a beta of 0.52. McKesson Corporation has a fifty-two week low of $520.20 and a fifty-two week high of $846.43.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the prior year, the company earned $7.88 earnings per share. McKesson’s quarterly revenue was up 23.4% compared to the same quarter last year. Research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is presently 13.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MCK shares. Morgan Stanley lifted their target price on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Citigroup lifted their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Leerink Partners lifted their target price on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Finally, TD Cowen upped their target price on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $839.15.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% 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, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,189 shares of company stock valued at $16,722,190. Insiders own 0.08% of the company’s stock.

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.