Central Bank & Trust Co. Increases Stock Holdings in McKesson Co. (NYSE:MCK)

Central Bank & Trust Co. raised its position in McKesson Co. (NYSE:MCK) by 49.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,014 shares of the company’s stock after purchasing an additional 664 shares during the quarter. Central Bank & Trust Co.’s holdings in McKesson were worth $1,355,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC purchased a new position in McKesson in the fourth quarter worth approximately $26,000. Millstone Evans Group LLC purchased a new position in shares of McKesson during the 4th quarter worth $28,000. Atala Financial Inc purchased a new stake in McKesson in the 4th quarter valued at about $34,000. Graney & King LLC purchased a new stake in McKesson in the 4th quarter valued at about $38,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the company an “equal weight” rating in a research report on Tuesday, June 3rd. Mizuho upped their price target on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Wall Street Zen raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 30th. UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley raised their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $692.46.

McKesson Stock Performance

MCK stock opened at $712.99 on Friday. The company’s 50 day moving average price is $699.69 and its 200 day moving average price is $641.25. The firm has a market capitalization of $89.20 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. McKesson’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.18 earnings per share. Equities analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson’s dividend payout ratio is currently 10.99%.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 341 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the transaction, the executive vice president now directly owns 2,800 shares of the company’s stock, valued at $2,010,148. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas L. Rodgers sold 510 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $366,134.10. Following the completion of the transaction, the executive vice president now owns 5,435 shares of the company’s stock, valued at $3,901,840.85. This represents a 8.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,747 shares of company stock worth $9,852,587. 0.11% of the stock is currently owned by insiders.

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.