Central Pacific Bank Trust Division Acquires 1,378 Shares of McKesson Corporation $MCK

Central Pacific Bank Trust Division boosted its holdings in McKesson Corporation (NYSE:MCK) by 54.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,913 shares of the company’s stock after buying an additional 1,378 shares during the quarter. Central Pacific Bank Trust Division’s holdings in McKesson were worth $3,023,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $1,346,661,000. Alliancebernstein L.P. grew its stake in shares of McKesson by 150.4% during the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock worth $1,661,956,000 after buying an additional 1,362,386 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of McKesson by 56.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after buying an additional 446,060 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of McKesson by 4,559.6% in the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock valued at $287,840,000 after acquiring an additional 418,524 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of McKesson by 92.3% during the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock valued at $437,760,000 after acquiring an additional 312,473 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $823.15 on Tuesday. The stock’s 50 day moving average is $821.84 and its 200 day moving average is $749.35. McKesson Corporation has a one year low of $558.13 and a one year high of $895.58. The firm has a market cap of $101.60 billion, a P/E ratio of 25.62, a P/E/G ratio of 1.34 and a beta of 0.38.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $7.07 EPS. Equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is presently 10.21%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent research reports. Morgan Stanley upped their target price on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Barclays started coverage on McKesson in a report on Monday, December 8th. They set an “overweight” rating and a $960.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of McKesson in a report on Wednesday, December 10th. Robert W. Baird lifted their target price on shares of McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of McKesson in a research report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $892.86.

About McKesson

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.