Fiduciary Trust Co Sells 55 Shares of McKesson Co. (NYSE:MCK)

Fiduciary Trust Co lowered its stake in shares of McKesson Co. (NYSE:MCK) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,633 shares of the company’s stock after selling 55 shares during the quarter. Fiduciary Trust Co’s holdings in McKesson were worth $1,796,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of McKesson by 0.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,722 shares of the company’s stock worth $28,044,000 after acquiring an additional 474 shares in the last quarter. FORA Capital LLC boosted its holdings in McKesson by 109.9% during the third quarter. FORA Capital LLC now owns 16,299 shares of the company’s stock worth $8,059,000 after purchasing an additional 8,534 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the 3rd quarter worth about $31,000. CreativeOne Wealth LLC increased its stake in McKesson by 5.8% in the 3rd quarter. CreativeOne Wealth LLC now owns 6,613 shares of the company’s stock valued at $3,270,000 after buying an additional 364 shares during the last quarter. Finally, BNP Paribas lifted its position in shares of McKesson by 252.1% during the 3rd quarter. BNP Paribas now owns 46,107 shares of the company’s stock worth $22,716,000 after buying an additional 33,012 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report 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 report on Wednesday, August 21st. Barclays boosted their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Wells Fargo & Company decreased their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $631.57.

McKesson Price Performance

McKesson stock opened at $628.60 on Friday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm has a market capitalization of $79.79 billion, a P/E ratio of 32.55, a PEG ratio of 1.35 and a beta of 0.44. The business has a fifty day moving average price of $542.22 and a 200-day moving average price of $559.90.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating 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 business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the firm earned $6.23 EPS. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. Sell-side analysts expect that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on 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 sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

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.