Private Trust Co. NA Buys 81 Shares of McKesson Co. (NYSE:MCK)

Private Trust Co. NA increased its stake in shares of McKesson Co. (NYSE:MCK) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,055 shares of the company’s stock after acquiring an additional 81 shares during the quarter. Private Trust Co. NA’s holdings in McKesson were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. 1832 Asset Management L.P. bought a new stake in McKesson in the 1st quarter worth $102,000. Dynasty Wealth Management LLC purchased a new position in shares of McKesson during the first quarter valued at approximately $1,086,000. B. Riley Wealth Advisors Inc. raised its holdings in shares of McKesson by 10.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,747 shares of the company’s stock valued at $2,548,000 after acquiring an additional 449 shares in the last quarter. Tidal Investments LLC lifted its stake in McKesson by 31.7% in the first quarter. Tidal Investments LLC now owns 7,487 shares of the company’s stock worth $4,021,000 after acquiring an additional 1,800 shares during the period. Finally, Semmax Financial Advisors Inc. boosted its holdings in McKesson by 5.2% in the first quarter. Semmax Financial Advisors Inc. now owns 1,399 shares of the company’s stock valued at $776,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 1.0 %

MCK opened at $616.72 on Tuesday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The firm has a 50 day moving average price of $532.91 and a 200-day moving average price of $557.99. The stock has a market capitalization of $78.29 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.35 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the business posted $6.23 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.46%. McKesson’s payout ratio is presently 14.71%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MCK shares. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft reduced their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Citigroup boosted their target price on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Mizuho raised their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $631.57.

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.