Mainstay Capital Management LLC ADV reduced its stake in shares of McKesson Co. (NYSE:MCK) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,143 shares of the company’s stock after selling 125 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in McKesson were worth $1,265,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. Private Advisor Group LLC grew its holdings in shares of McKesson by 17.7% during the 2nd quarter. Private Advisor Group LLC now owns 6,400 shares of the company’s stock worth $860,000 after purchasing an additional 961 shares in the last quarter. Balyasny Asset Management LLC boosted its stake in shares of McKesson by 31.4% during the second quarter. Balyasny Asset Management LLC now owns 37,809 shares of the company’s stock valued at $5,081,000 after purchasing an additional 9,036 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of McKesson during the second quarter valued at about $203,000. Cubist Systematic Strategies LLC boosted its stake in shares of McKesson by 89.2% during the second quarter. Cubist Systematic Strategies LLC now owns 32,997 shares of the company’s stock valued at $4,434,000 after purchasing an additional 15,556 shares in the last quarter. Finally, CSat Investment Advisory L.P. boosted its stake in shares of McKesson by 165.8% during the second quarter. CSat Investment Advisory L.P. now owns 295 shares of the company’s stock valued at $40,000 after purchasing an additional 184 shares in the last quarter. 87.29% of the stock is currently owned by institutional investors.
MCK has been the topic of a number of recent research reports. Mizuho lifted their price target on McKesson from $137.00 to $140.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. TheStreet lowered McKesson from a “b” rating to a “c-” rating in a research note on Wednesday, October 30th. UBS Group lowered McKesson to a “sell” rating and set a $147.00 price target on the stock. in a research note on Thursday, January 9th. Barclays reissued a “hold” rating and set a $170.00 price target on shares of McKesson in a research note on Sunday. Finally, Morgan Stanley raised McKesson from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $135.00 to $162.00 in a research note on Friday, January 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $153.70.
Shares of MCK opened at $156.33 on Tuesday. McKesson Co. has a 1 year low of $110.52 and a 1 year high of $156.97. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.01 and a quick ratio of 0.57. The company has a market capitalization of $28.17 billion, a price-to-earnings ratio of -44.41, a price-to-earnings-growth ratio of 1.51 and a beta of 1.12. The business has a 50-day moving average of $142.22 and a 200-day moving average of $142.13.
McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.60 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $3.60. McKesson had a positive return on equity of 32.77% and a negative net margin of 0.29%. The company had revenue of $57.62 billion during the quarter, compared to the consensus estimate of $55.06 billion. During the same period last year, the company earned $3.60 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that McKesson Co. will post 14.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.41 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.64 dividend on an annualized basis and a yield of 1.05%. McKesson’s payout ratio is currently 12.09%.
In other McKesson news, CEO Brian S. Tyler sold 4,062 shares of McKesson stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $153.68, for a total value of $624,248.16. Following the completion of the sale, the chief executive officer now directly owns 16,254 shares in the company, valued at $2,497,914.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.88% of the company’s stock.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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