First National Trust Co Has $1.40 Million Position in McKesson Co. (NYSE:MCK)

First National Trust Co cut its position in McKesson Co. (NYSE:MCK) by 21.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,014 shares of the company’s stock after selling 819 shares during the period. First National Trust Co’s holdings in McKesson were worth $1,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in McKesson during the 3rd quarter worth approximately $26,000. BKM Wealth Management LLC bought a new stake in shares of McKesson during the fourth quarter worth $31,000. WASHINGTON TRUST Co raised its holdings in shares of McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after acquiring an additional 34 shares during the period. Milestone Investment Advisors LLC bought a new stake in McKesson in the 3rd quarter valued at $61,000. Finally, Orion Capital Management LLC acquired a new position in McKesson in the 3rd quarter worth $63,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MCK has been the topic of several recent research reports. Argus lifted their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. SVB Leerink initiated coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Citigroup raised their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Morgan Stanley lifted their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $536.71.

McKesson Stock Performance

McKesson stock traded down $1.41 during midday trading on Friday, reaching $528.86. 866,981 shares of the company’s stock were exchanged, compared to its average volume of 626,262. The stock’s 50-day simple moving average is $530.38 and its 200 day simple moving average is $492.08. The firm has a market cap of $69.50 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $544.81.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Friday, May 31st. McKesson’s payout ratio is 11.24%.

Insider Buying and Selling

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