Trust Investment Advisors Makes New $273,000 Investment in McKesson Co. (NYSE:MCK)

Trust Investment Advisors bought a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 590 shares of the company’s stock, valued at approximately $273,000.

A number of other large investors also recently modified their holdings of the stock. Fairfield Bush & CO. bought a new position in McKesson in the 1st quarter valued at $46,000. Synovus Financial Corp boosted its stake in McKesson by 4.0% in the first quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock valued at $673,000 after acquiring an additional 85 shares during the last quarter. Prudential PLC acquired a new position in shares of McKesson during the 1st quarter worth about $1,610,000. Cetera Investment Advisers lifted its holdings in McKesson by 17.8% during the first quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock worth $3,012,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new stake in shares of McKesson in the first quarter valued at about $598,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on MCK. Argus lifted their price objective on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. SVB Leerink started coverage on McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Barclays started coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. Finally, Morgan Stanley upped their price target on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

McKesson Trading Down 1.4 %

McKesson stock traded down $7.11 during mid-day trading on Thursday, hitting $518.81. The company had a trading volume of 631,236 shares, compared to its average volume of 689,383. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $543.00. The stock’s 50 day moving average price is $523.95 and its two-hundred day moving average price is $485.48. The company has a market capitalization of $68.18 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.90 EPS. Equities research analysts anticipate that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.48%. McKesson’s payout ratio is 11.24%.

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.