McKesson Co. (NYSE:MCK) Stock Holdings Increased by Providence First Trust Co

Providence First Trust Co grew its position in shares of McKesson Co. (NYSE:MCK) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,288 shares of the company’s stock after buying an additional 26 shares during the period. Providence First Trust Co’s holdings in McKesson were worth $1,874,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Old North State Trust LLC raised its stake in McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after acquiring an additional 18 shares during the period. Trust Co. of Vermont grew its holdings in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the last quarter. Hemington Wealth Management raised its position in shares of McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after purchasing an additional 18 shares during the period. Black Diamond Financial LLC lifted its holdings in shares of McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after purchasing an additional 19 shares during the last quarter. Finally, Calamos Wealth Management LLC boosted its position in McKesson by 0.4% during the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MCK. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,268 shares of company stock worth $11,536,378. Company insiders own 0.11% of the company’s stock.

McKesson Stock Up 3.2 %

Shares of McKesson stock opened at $640.82 on Friday. The business has a fifty day simple moving average of $594.13 and a 200-day simple moving average of $564.09. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $641.70. The firm has a market cap of $80.31 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.