Bank of New Hampshire Trims Stock Position in McKesson Co. (NYSE:MCK)

Bank of New Hampshire decreased its position in McKesson Co. (NYSE:MCK) by 19.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124 shares of the company’s stock after selling 30 shares during the quarter. Bank of New Hampshire’s holdings in McKesson were worth $83,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. GAMMA Investing LLC raised its position in McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares during the period. Norges Bank purchased a new stake in McKesson in the fourth quarter valued at approximately $1,200,361,000. Farallon Capital Management LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $348,044,000. Marshall Wace LLP raised its position in McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock valued at $204,553,000 after purchasing an additional 358,322 shares during the period. Finally, Leigh Baldwin & CO. LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $182,861,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.2%

Shares of MCK stock opened at $712.99 on Monday. The firm has a fifty day moving average price of $699.69 and a 200 day moving average price of $641.34. The company has a market cap of $89.20 billion, a P/E ratio of 32.65, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00.

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

McKesson Dividend Announcement

The business also recently disclosed 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 presently 10.99%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the transaction, the executive vice president now owns 2,621 shares in the company, valued at $1,880,043.30. This represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer now owns 1,972 shares of the company’s stock, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,747 shares of company stock worth $9,852,587 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on MCK shares. Wall Street Zen raised McKesson from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 30th. Morgan Stanley upped their price objective on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. UBS Group upped their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Three research 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’s stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $692.46.

McKesson 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.