Main Street Financial Solutions LLC reduced its position in McKesson Co. (NYSE:MCK – Get Rating) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,730 shares of the company’s stock after selling 142 shares during the quarter. Main Street Financial Solutions LLC’s holdings in McKesson were worth $1,142,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of McKesson by 2.1% during the fourth quarter. BlackRock Inc. now owns 13,171,252 shares of the company’s stock worth $3,273,976,000 after acquiring an additional 269,506 shares during the period. State Street Corp increased its position in shares of McKesson by 1.0% during the fourth quarter. State Street Corp now owns 6,808,394 shares of the company’s stock worth $1,695,505,000 after acquiring an additional 68,645 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of McKesson by 3.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,705,025 shares of the company’s stock worth $1,418,098,000 after acquiring an additional 168,279 shares during the period. Geode Capital Management LLC increased its position in shares of McKesson by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,822,874 shares of the company’s stock worth $699,869,000 after acquiring an additional 14,676 shares during the period. Finally, LSV Asset Management boosted its stake in shares of McKesson by 6.3% during the fourth quarter. LSV Asset Management now owns 1,645,854 shares of the company’s stock valued at $409,110,000 after purchasing an additional 97,560 shares in the last quarter. 85.45% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Brian S. Tyler sold 3,232 shares of the business’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $308.31, for a total transaction of $996,457.92. Following the transaction, the chief executive officer now directly owns 82,039 shares in the company, valued at $25,293,444.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 1,535 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $305.20, for a total transaction of $468,482.00. Following the completion of the sale, the chief executive officer now directly owns 75,737 shares in the company, valued at $23,114,932.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,802 shares of company stock valued at $28,300,233. 0.21% of the stock is currently owned by corporate insiders.
A number of equity analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of McKesson from $280.00 to $331.00 in a research note on Monday, May 9th. StockNews.com assumed coverage on shares of McKesson in a research note on Thursday, March 31st. They set a “strong-buy” rating on the stock. Credit Suisse Group increased their price objective on shares of McKesson from $333.00 to $377.00 in a research note on Wednesday, May 11th. Robert W. Baird increased their price objective on shares of McKesson from $352.00 to $380.00 in a research note on Friday, May 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of McKesson from a “hold” rating to a “buy” rating and raised their target price for the company from $343.00 to $378.00 in a research note on Tuesday, June 7th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $328.69.
NYSE MCK opened at $329.53 on Monday. The company has a fifty day simple moving average of $320.00 and a two hundred day simple moving average of $292.05. The stock has a market cap of $47.31 billion, a P/E ratio of 45.70, a P/E/G ratio of 1.50 and a beta of 0.63. McKesson Co. has a 12-month low of $186.61 and a 12-month high of $339.94.
McKesson (NYSE:MCK – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $5.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.06 by ($0.23). McKesson had a negative return on equity of 538.84% and a net margin of 0.42%. The company had revenue of $66.10 billion during the quarter, compared to analysts’ expectations of $63.82 billion. During the same period in the previous year, the business posted $5.05 EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts forecast that McKesson Co. will post 23.25 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 1st were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 31st. This represents a $1.88 annualized dividend and a dividend yield of 0.57%. McKesson’s dividend payout ratio (DPR) is currently 26.07%.
About McKesson: (Get Rating)
McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments. US Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The US Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.
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