Mainstay Capital Management LLC ADV Grows Stake in McKesson Co. (NYSE:MCK)

Mainstay Capital Management LLC ADV raised its holdings in shares of McKesson Co. (NYSE:MCK) by 15.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,146 shares of the company’s stock after purchasing an additional 411 shares during the period. Mainstay Capital Management LLC ADV’s holdings in McKesson were worth $1,555,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MCK. JPMorgan Chase & Co. boosted its position in McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after purchasing an additional 46,659 shares in the last quarter. Legal & General Group Plc lifted its position in shares of McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after buying an additional 36,583 shares during the last quarter. Swedbank AB purchased a new position in shares of McKesson in the 1st quarter worth approximately $669,326,000. Boston Partners raised its stake in shares of McKesson by 4.1% during the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after acquiring an additional 47,140 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after acquiring an additional 62,875 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of McKesson stock opened at $504.96 on Friday. The stock has a market cap of $65.61 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The firm has a fifty day moving average price of $518.29 and a 200 day moving average price of $551.37. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter last year, the business posted $7.27 EPS. The company’s revenue was up 6.4% on a year-over-year basis. As a group, equities analysts expect that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, August 30th. McKesson’s payout ratio is currently 12.69%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Wells Fargo & Company dropped their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Robert W. Baird reiterated a “neutral” rating and issued a $531.00 price target (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Evercore ISI cut their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

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.