Whittier Trust Co. of Nevada Inc. Buys 116 Shares of McKesson Co. (NYSE:MCK)

Whittier Trust Co. of Nevada Inc. raised its stake in shares of McKesson Co. (NYSE:MCK) by 1.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,622 shares of the company’s stock after acquiring an additional 116 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in McKesson were worth $6,053,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in McKesson during the 3rd quarter valued at about $31,000. Synergy Asset Management LLC bought a new position in McKesson during the 4th quarter valued at about $32,000. Crews Bank & Trust bought a new position in McKesson during the 4th quarter valued at about $33,000. Atala Financial Inc bought a new position in McKesson during the 4th quarter valued at about $34,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of McKesson in the 4th quarter worth approximately $44,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Citigroup lowered their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by corporate insiders.

McKesson Price Performance

Shares of MCK opened at $659.45 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $670.79. The company has a 50 day simple moving average of $616.14 and a two-hundred day simple moving average of $574.33. The firm has a market cap of $82.65 billion, a P/E ratio of 30.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.