Truist Financial Corp Has $46.98 Million Holdings in McKesson Co. (NYSE:MCK)

Truist Financial Corp decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,471 shares of the company’s stock after selling 12,811 shares during the quarter. Truist Financial Corp owned about 0.08% of McKesson worth $46,979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. OFI Invest Asset Management acquired a new stake in McKesson during the 3rd quarter worth $26,000. Legacy Financial Group LLC acquired a new stake in shares of McKesson during the third quarter worth $27,000. BKM Wealth Management LLC bought a new stake in McKesson in the fourth quarter valued at about $31,000. Avior Wealth Management LLC lifted its stake in McKesson by 50.0% in the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock valued at $37,000 after buying an additional 28 shares during the period. Finally, WASHINGTON TRUST Co boosted its holdings in McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after buying an additional 34 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $1,821,762.15. Following 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. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on MCK shares. Citigroup increased their price target on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. SVB Leerink started coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. UBS Group boosted their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Barclays initiated coverage on McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

McKesson Price Performance

Shares of McKesson stock opened at $543.30 on Friday. The firm has a market cap of $71.40 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.44 and a beta of 0.45. The stock’s 50-day moving average is $528.15 and its 200-day moving average is $489.72. McKesson Co. has a one year low of $352.34 and a one year high of $544.81.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating 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 quarter last year, the firm earned $6.90 EPS. McKesson’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities analysts expect that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The firm 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 yield of 0.46%. The ex-dividend date 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.