Greenleaf Trust Raises Stock Holdings in McKesson Co. (NYSE:MCK)

Greenleaf Trust boosted its stake in shares of McKesson Co. (NYSE:MCK) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,964 shares of the company’s stock after buying an additional 120 shares during the quarter. Greenleaf Trust’s holdings in McKesson were worth $2,298,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. HTLF Bank acquired a new stake in McKesson in the 4th quarter valued at approximately $322,000. Fidelis Capital Partners LLC grew its position in McKesson by 4.5% in the 4th quarter. Fidelis Capital Partners LLC now owns 1,313 shares of the company’s stock valued at $608,000 after acquiring an additional 57 shares in the last quarter. Trust Investment Advisors purchased a new stake in McKesson during the fourth quarter worth about $273,000. AIA Group Ltd purchased a new position in McKesson in the 4th quarter valued at $1,574,000. Finally, Wright Investors Service Inc. raised its position in McKesson by 39.6% during the 4th quarter. Wright Investors Service Inc. now owns 5,902 shares of the company’s stock worth $2,733,000 after buying an additional 1,673 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the business’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 completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

McKesson Price Performance

NYSE MCK traded up $6.02 on Friday, hitting $524.83. 645,368 shares of the stock were exchanged, compared to its average volume of 454,051. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00. The company has a market capitalization of $68.97 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.41 and a beta of 0.45. The company’s 50-day moving average price is $524.91 and its two-hundred day moving average price is $486.31.

McKesson (NYSE:MCK) last released 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. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $6.90 EPS. Equities analysts predict that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MCK shares. Argus raised their price objective on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. UBS Group boosted their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Mizuho raised their target price on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Company Profile

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.