Main Street Research LLC Has $46.25 Million Holdings in McKesson Corporation (NYSE:MCK)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Oppenheimer Asset Management Inc. lifted its holdings in shares of McKesson by 54.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock worth $3,056,000 after purchasing an additional 1,592 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in McKesson by 16.6% in the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock valued at $524,000 after buying an additional 111 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of McKesson by 18.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after acquiring an additional 3,659 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock worth $123,332,000 after acquiring an additional 7,556 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its holdings in shares of McKesson by 6.3% in the 1st quarter. CWA Asset Management Group LLC now owns 979 shares of the company's stock worth $659,000 after acquiring an additional 58 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on MCK. Bank of America upped their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Morgan Stanley raised their target price on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. 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. Mizuho raised their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, Evercore ISI boosted their target price on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $706.83.

Insiders Place Their Bets

In related news, CFO Britt J. Vitalone sold 1,878 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the completion of the sale, the chief financial officer directly owned 14,028 shares in the company, valued at approximately $10,070,841.48. This trade represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 341 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the transaction, the executive vice president directly owned 2,800 shares in the company, valued at $2,010,148. The trade was a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,117 shares of company stock valued at $23,526,451 over the last quarter. 0.08% of the stock is owned by insiders.

McKesson Stock Down 1.9%

Shares of NYSE MCK traded down $14.15 during mid-day trading on Thursday, hitting $713.08. 294,113 shares of the company traded hands, compared to its average volume of 925,479. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The stock has a market capitalization of $89.21 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.44 and a beta of 0.48. The business has a 50 day moving average of $715.50 and a two-hundred day moving average of $660.30.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 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 company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same period last year, the company posted $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, research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

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.