McKesson Corporation (NYSE:MCK) Shares Sold by Mainstay Capital Management LLC ADV

Mainstay Capital Management LLC ADV decreased its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,545 shares of the company's stock after selling 507 shares during the period. McKesson makes up approximately 0.3% of Mainstay Capital Management LLC ADV's investment portfolio, making the stock its 24th biggest position. Mainstay Capital Management LLC ADV's holdings in McKesson were worth $2,386,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MCK. T. Rowe Price Investment Management Inc. lifted its holdings in shares of McKesson by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after acquiring an additional 222,496 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of McKesson by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after acquiring an additional 10,015 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after acquiring an additional 114,396 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after acquiring an additional 2,389,992 shares during the last quarter. Finally, Norges Bank bought a new position in shares of McKesson in the 4th quarter valued at about $1,200,361,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Evercore ISI raised their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. UBS Group raised their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $710.17.

Insiders Place Their Bets

In other news, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the sale, the executive vice president directly owned 2,544 shares of the company's stock, valued at $1,811,785.92. The trade was a 53.19% 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, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer directly owned 1,972 shares in the company, valued at $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,488 shares of company stock valued at $37,242,862. 0.08% of the stock is currently owned by company insiders.

McKesson Price Performance

NYSE MCK traded down $0.44 on Friday, hitting $709.84. The stock had a trading volume of 496,474 shares, compared to its average volume of 921,244. The business's fifty day moving average price is $716.44 and its 200 day moving average price is $667.56. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $737.89. The stock has a market cap of $88.81 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period in the previous year, the company earned $6.18 earnings per share. The business's revenue for the quarter was up 18.9% on a year-over-year basis. As a group, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's dividend payout ratio is currently 10.99%.

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.