Crews Bank & Trust Acquires New Shares in McKesson Co. (NYSE:MCK)

Crews Bank & Trust purchased a new position in shares of McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 58 shares of the company’s stock, valued at approximately $33,000.

A number of other large investors have also recently added to or reduced their stakes in MCK. Wolff Wiese Magana LLC increased its position in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson during the 3rd quarter worth about $31,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the 4th quarter valued at about $32,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of McKesson during the 3rd quarter valued at about $40,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. Evercore ISI increased their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Leerink Partners decreased their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $646.14.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Stock Down 1.6 %

Shares of NYSE MCK opened at $594.85 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The firm’s 50-day simple moving average is $590.79 and its 200 day simple moving average is $562.23. The company has a market cap of $75.51 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the business earned $6.23 earnings per share. On average, equities analysts expect that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s payout ratio is 14.71%.

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.