Whittier Trust Co. Boosts Stock Position in McKesson Corporation $MCK
by Renee Jackson · The Cerbat GemWhittier Trust Co. grew its holdings in McKesson Corporation (NYSE:MCK – Free Report) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,884 shares of the company’s stock after purchasing an additional 855 shares during the period. Whittier Trust Co.’s holdings in McKesson were worth $25,746,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in MCK. Solstein Capital LLC grew its holdings in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. State of Wyoming bought a new position in McKesson in the 2nd quarter worth about $29,000. GFG Capital LLC purchased a new position in shares of McKesson during the second quarter worth approximately $30,000. Delos Wealth Advisors LLC bought a new stake in shares of McKesson during the second quarter valued at approximately $35,000. Finally, Abound Wealth Management boosted its holdings in shares of McKesson by 104.3% in the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares during the period. 85.07% of the stock is currently owned by institutional investors.
Insider Activity at McKesson
In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’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 completion of the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms have commented on MCK. Wells Fargo & Company raised their price objective on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group lifted their price objective on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Jefferies Financial Group upped their price objective on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $895.79.
View Our Latest Stock Analysis on MCK
McKesson Price Performance
Shares of NYSE MCK opened at $819.69 on Friday. McKesson Corporation has a 1-year low of $570.51 and a 1-year high of $895.58. The business has a fifty day moving average price of $831.03 and a 200 day moving average price of $770.07. The stock has a market capitalization of $101.17 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 1.35 and a beta of 0.41.
McKesson (NYSE:MCK – Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 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 business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the previous year, the company posted $7.07 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.
McKesson Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s dividend payout ratio (DPR) is 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.
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