Cetera Trust Company N.A Buys New Shares in McKesson Co. (NYSE:MCK)

Cetera Trust Company N.A purchased a new stake in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,960 shares of the company’s stock, valued at approximately $3,685,000. McKesson accounts for approximately 2.3% of Cetera Trust Company N.A’s portfolio, making the stock its 4th largest holding.

Several other large investors have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares during the period. OFI Invest Asset Management bought a new stake in McKesson in the third quarter valued at $26,000. Legacy Financial Group LLC acquired a new position in McKesson during the third quarter worth $27,000. Live Oak Investment Partners bought a new position in shares of McKesson during the fourth quarter valued at $30,000. Finally, BKM Wealth Management LLC bought a new position in McKesson during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction 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 approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCK. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Argus boosted their price objective on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Citigroup lifted their target price on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Mizuho lifted their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, SVB Leerink began coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Trading Up 1.2 %

Shares of MCK stock traded up $6.02 on Friday, hitting $524.83. The stock had a trading volume of 645,525 shares, compared to its average volume of 454,051. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $543.00. The company has a fifty day moving average price of $524.91 and a two-hundred day moving average price of $486.65. The firm has a market cap of $68.97 billion, a P/E ratio of 23.78, a PEG ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last posted 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 firm had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same period in the previous year, the firm earned $6.90 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. On average, analysts expect that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

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

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.