Whittier Trust Co. Purchases 855 Shares of McKesson Corporation $MCK

Whittier Trust Co. grew its position in McKesson Corporation (NYSE:MCK) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,884 shares of the company’s stock after purchasing an additional 855 shares during the quarter. Whittier Trust Co.’s holdings in McKesson were worth $25,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. IAM Advisory LLC raised its holdings in McKesson by 0.3% during the third quarter. IAM Advisory LLC now owns 3,908 shares of the company’s stock valued at $3,019,000 after acquiring an additional 13 shares during the period. PDS Planning Inc grew its position in shares of McKesson by 1.1% during the third quarter. PDS Planning Inc now owns 1,209 shares of the company’s stock worth $934,000 after purchasing an additional 13 shares in the last quarter. Cardinal Point Capital Management ULC raised its stake in McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after purchasing an additional 14 shares during the period. Goldstein Advisors LLC lifted its holdings in McKesson by 4.4% in the 3rd quarter. Goldstein Advisors LLC now owns 334 shares of the company’s stock worth $258,000 after purchasing an additional 14 shares in the last quarter. Finally, Cypress Wealth Services LLC boosted its stake in McKesson by 3.7% in the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after purchasing an additional 15 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research analyst reports. Jefferies Financial Group boosted their target price on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Barclays initiated coverage on shares of McKesson in a report on Monday, December 8th. They issued an “overweight” rating and a $960.00 price target on the stock. Zacks Research downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Wells Fargo & Company lifted their target price on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Finally, TD Cowen reiterated a “buy” rating on shares of McKesson in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $895.79.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at $1,851,096.24. This trade represents a 10.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.08% of the stock is owned by insiders.

McKesson Trading Up 0.3%

Shares of NYSE MCK opened at $819.69 on Friday. McKesson Corporation has a 12-month low of $570.51 and a 12-month high of $895.58. The firm’s 50-day moving average price is $831.03 and its 200-day moving average price is $770.07. The stock has a market capitalization of $101.17 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 1.35 and a beta of 0.41.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $7.07 earnings per share. On average, equities analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a $0.82 dividend. The ex-dividend date was Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.