CoreFirst Bank & Trust Takes $67,000 Position in McKesson Co. (NYSE:MCK)

CoreFirst Bank & Trust acquired a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 117 shares of the company’s stock, valued at approximately $67,000.

Other large investors have also added to or reduced their stakes in the company. Prudential Financial Inc. boosted its position in shares of McKesson by 32.1% in the fourth quarter. Prudential Financial Inc. now owns 144,729 shares of the company’s stock valued at $82,483,000 after acquiring an additional 35,132 shares during the period. Congress Wealth Management LLC DE lifted its stake in McKesson by 6.2% in the 4th quarter. Congress Wealth Management LLC DE now owns 2,619 shares of the company’s stock worth $1,493,000 after purchasing an additional 154 shares in the last quarter. Stevens Capital Management LP bought a new position in McKesson in the 4th quarter valued at $320,000. LPL Financial LLC grew its position in shares of McKesson by 7.9% during the 4th quarter. LPL Financial LLC now owns 138,196 shares of the company’s stock valued at $78,759,000 after purchasing an additional 10,148 shares in the last quarter. Finally, Heron Bay Capital Management raised its position in shares of McKesson by 2.4% in the fourth quarter. Heron Bay Capital Management now owns 19,316 shares of the company’s stock worth $11,008,000 after buying an additional 456 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $662.71 on Wednesday. The company has a market capitalization of $83.05 billion, a P/E ratio of 30.34, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $670.79. The stock has a 50 day moving average price of $619.05 and a two-hundred day moving average price of $576.50.

McKesson (NYSE:MCK) last announced its quarterly earnings results 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%. As a group, equities analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. McKesson’s dividend payout ratio is presently 13.00%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 in the last 90 days. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MCK shares. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their price objective on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America cut their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $649.36.

About McKesson

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.