McKesson Co. (NYSE:MCK) Shares Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its stake in McKesson Co. (NYSE:MCK) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,996 shares of the company’s stock after purchasing an additional 155 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in McKesson were worth $1,138,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MCK. Public Sector Pension Investment Board grew its position in shares of McKesson by 76.1% in the second quarter. Public Sector Pension Investment Board now owns 4,778 shares of the company’s stock valued at $2,791,000 after purchasing an additional 2,064 shares during the period. Scientech Research LLC acquired a new stake in shares of McKesson in the second quarter valued at about $505,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of McKesson in the second quarter valued at about $6,397,000. Driehaus Capital Management LLC grew its position in shares of McKesson by 46.9% in the second quarter. Driehaus Capital Management LLC now owns 1,415 shares of the company’s stock valued at $826,000 after purchasing an additional 452 shares during the period. Finally, Ascent Group LLC boosted its position in McKesson by 2.8% during the second quarter. Ascent Group LLC now owns 5,705 shares of the company’s stock worth $3,332,000 after acquiring an additional 154 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MCK. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Leerink Partners lowered their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Finally, StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Trading Down 1.0 %

Shares of McKesson stock opened at $591.47 on Monday. The company has a fifty day simple moving average of $592.65 and a 200-day simple moving average of $561.31. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a market cap of $75.08 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the business posted $6.23 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by company insiders.

McKesson 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.