First National Trust Co Sells 819 Shares of McKesson Co. (NYSE:MCK)

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

Several other hedge funds also recently bought and sold shares of MCK. OFI Invest Asset Management purchased a new stake in shares of McKesson in the 3rd quarter valued at about $26,000. BKM Wealth Management LLC purchased a new position in shares of McKesson during the fourth quarter worth about $31,000. WASHINGTON TRUST Co raised its stake in McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after purchasing an additional 34 shares in the last quarter. Milestone Investment Advisors LLC bought a new stake in McKesson during the third quarter valued at approximately $61,000. Finally, Orion Capital Management LLC purchased a new position in McKesson in the 3rd quarter worth approximately $63,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several analysts have recently weighed in on MCK shares. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Argus lifted their price target on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley upped their price objective on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, 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 for the company. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $536.71.

McKesson Stock Down 0.3 %

Shares of McKesson stock traded down $1.41 on Friday, hitting $528.86. The stock had a trading volume of 866,981 shares, compared to its average volume of 626,262. The stock’s 50-day simple moving average is $530.38 and its two-hundred day simple moving average is $492.08. McKesson Co. has a one year low of $352.34 and a one year high of $544.81. The stock has a market cap of $69.50 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 1.41 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 business had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $6.90 EPS. As a group, equities analysts predict that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Friday, May 31st. 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.