MainStreet Investment Advisors LLC Acquires New Position in McKesson Co. (MCK)

MainStreet Investment Advisors LLC acquired a new stake in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,272 shares of the company’s stock, valued at approximately $3,005,000.

Several other institutional investors and hedge funds also recently bought and sold shares of MCK. Icon Wealth Partners LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $111,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in McKesson by 176.6% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 769 shares of the company’s stock valued at $130,000 after buying an additional 491 shares during the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in McKesson in the third quarter valued at approximately $155,000. Virtue Capital Management LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $180,000. Finally, Focused Wealth Management Inc boosted its position in McKesson by 650.0% in the fourth quarter. Focused Wealth Management Inc now owns 1,200 shares of the company’s stock valued at $187,000 after buying an additional 1,040 shares during the last quarter. Hedge funds and other institutional investors own 88.65% of the company’s stock.

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In other news, SVP Erin M. Lampert sold 1,413 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $149.38, for a total transaction of $211,073.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

MCK has been the topic of a number of recent research reports. ValuEngine lowered McKesson from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Evercore ISI initiated coverage on McKesson in a research report on Thursday, January 4th. They issued an “outperform” rating and a $179.00 target price on the stock. Credit Suisse Group reiterated a “sell” rating and issued a $130.00 target price on shares of McKesson in a research report on Friday, February 2nd. Barclays initiated coverage on McKesson in a research report on Thursday, March 8th. They issued an “equal weight” rating and a $165.00 target price on the stock. Finally, Zacks Investment Research upgraded McKesson from a “hold” rating to a “buy” rating and set a $177.00 target price on the stock in a research report on Tuesday, December 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $176.74.

McKesson stock opened at $139.71 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.61 and a current ratio of 1.07. McKesson Co. has a 12 month low of $133.82 and a 12 month high of $178.86. The company has a market capitalization of $29,426.05, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.27 and a beta of 1.32.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, February 1st. The company reported $3.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.49. McKesson had a return on equity of 22.98% and a net margin of 2.34%. The business had revenue of $53.62 billion for the quarter, compared to analyst estimates of $51.98 billion. During the same quarter in the prior year, the firm posted $3.04 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. sell-side analysts expect that McKesson Co. will post 12.71 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, February 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.97%. McKesson’s dividend payout ratio (DPR) is 11.71%.

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McKesson Company Profile

McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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