Main Street Research LLC Purchases 852 Shares of McKesson Corporation (NYSE:MCK)

Main Street Research LLC lifted its position in McKesson Corporation (NYSE:MCK - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,656 shares of the company's stock after acquiring an additional 852 shares during the quarter. McKesson makes up about 3.0% of Main Street Research LLC's holdings, making the stock its 13th biggest holding. Main Street Research LLC owned 0.05% of McKesson worth $46,254,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in McKesson in the 4th quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new position in McKesson in the 4th quarter valued at approximately $28,000. Atala Financial Inc acquired a new position in McKesson in the 4th quarter valued at approximately $34,000. Graney & King LLC acquired a new position in shares of McKesson during the 4th quarter worth $38,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of McKesson by 1,840.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock worth $67,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the sale, the executive vice president owned 2,544 shares in the company, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the sale, the chief executive officer owned 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,117 shares of company stock worth $23,526,451. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th. Evercore ISI upped their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $706.83.

McKesson Trading Down 1.1%

Shares of McKesson stock traded down $7.63 during mid-day trading on Friday, reaching $706.92. 65,357 shares of the stock were exchanged, compared to its average volume of 925,157. The company has a market cap of $88.44 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48. The firm has a 50-day simple moving average of $715.65 and a 200 day simple moving average of $661.24. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the company posted $6.18 EPS. On average, research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given 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 payout ratio is presently 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.