Mechanics Bank Trust Department Has $3.09 Million Stock Position in McKesson Corporation $MCK

Mechanics Bank Trust Department grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 25.7% in the 3rd quarter, Holdings Channel reports. The fund owned 3,995 shares of the company’s stock after buying an additional 817 shares during the period. Mechanics Bank Trust Department’s holdings in McKesson were worth $3,086,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCK. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Robert W. Baird lifted their target price on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Morgan Stanley increased their price target on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Barclays initiated coverage on McKesson in a report on Monday, December 8th. They issued an “overweight” rating and a $960.00 price target on the stock. Finally, Cowen reissued 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, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $892.86.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.4%

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

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the previous year, the firm earned $7.07 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

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