McKesson Corporation $MCK Stock Holdings Increased by Mechanics Bank Trust Department

Mechanics Bank Trust Department increased its holdings in McKesson Corporation (NYSE:MCK) by 25.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,995 shares of the company’s stock after buying an additional 817 shares during the quarter. Mechanics Bank Trust Department’s holdings in McKesson were worth $3,086,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of McKesson by 27.0% in the first quarter. Integrated Wealth Concepts LLC now owns 5,323 shares of the company’s stock worth $3,582,000 after buying an additional 1,131 shares during the last quarter. NewEdge Advisors LLC boosted its position in McKesson by 7.4% during the first quarter. NewEdge Advisors LLC now owns 14,989 shares of the company’s stock worth $10,088,000 after purchasing an additional 1,032 shares during the period. Plancorp LLC lifted its stake in shares of McKesson by 1.8% in the first quarter. Plancorp LLC now owns 998 shares of the company’s stock worth $672,000 after buying an additional 18 shares during the last quarter. Finally, PharVision Advisers LLC acquired a new position in McKesson in the 1st quarter valued at $216,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MCK. Mizuho upped their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Weiss Ratings restated a “buy (a-)” rating on shares of McKesson in a research note on Monday, December 29th. JPMorgan Chase & Co. increased their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Jefferies Financial Group upped their price target on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, UBS Group raised their price target on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $892.86.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Up 0.4%

Shares of MCK stock opened at $823.28 on Monday. McKesson Corporation has a 12-month low of $568.23 and a 12-month high of $895.58. The firm has a fifty day moving average of $833.68 and a 200-day moving average of $759.51. The firm has a market capitalization of $101.62 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.41.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same period in the prior year, the business earned $7.07 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

McKesson Company 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.