First United Bank & Trust Increases Stock Holdings in McKesson Corporation $MCK

First United Bank & Trust increased its position in shares of McKesson Corporation (NYSE:MCK) by 378.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 790 shares of the company’s stock after purchasing an additional 625 shares during the period. First United Bank & Trust’s holdings in McKesson were worth $610,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of McKesson during the 2nd quarter worth approximately $1,346,661,000. Alliancebernstein L.P. grew its position in McKesson by 150.4% in the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock worth $1,661,956,000 after acquiring an additional 1,362,386 shares during the period. Arrowstreet Capital Limited Partnership grew its position in McKesson by 56.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after acquiring an additional 446,060 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in McKesson by 45.6% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock worth $610,977,000 after acquiring an additional 261,296 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in McKesson by 68.0% in the second quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock valued at $466,441,000 after purchasing an additional 257,670 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.08% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $825.32 on Tuesday. The company’s 50-day simple moving average is $834.59 and its 200-day simple moving average is $763.69. McKesson Corporation has a 1 year low of $570.51 and a 1 year high of $895.58. The stock has a market capitalization of $101.87 billion, a PE ratio of 25.69, a P/E/G ratio of 1.34 and a beta of 0.41.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $7.07 EPS. On average, sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MCK shares. JPMorgan Chase & Co. increased their price target on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Evercore ISI reaffirmed an “outperform” rating and issued a $1,000.00 target price on shares of McKesson in a research report on Thursday, November 6th. Zacks Research cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings restated a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Finally, Barclays assumed coverage on shares of McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $892.86.

About McKesson

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.