McKesson Corporation $MCK Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. grew its holdings in McKesson Corporation (NYSE:MCK) by 73.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,626 shares of the company’s stock after buying an additional 8,301 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in McKesson were worth $14,381,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Northern Trust Corp raised its position in shares of McKesson by 0.7% in the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after buying an additional 10,179 shares during the last quarter. Boston Partners raised its position in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after buying an additional 365,484 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of McKesson by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock valued at $868,237,000 after buying an additional 107,638 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of McKesson by 16.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock valued at $864,712,000 after buying an additional 181,831 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of McKesson by 0.7% in the first quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock valued at $714,543,000 after buying an additional 7,108 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK opened at $788.38 on Tuesday. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $793.97. The stock has a market cap of $98.06 billion, a PE ratio of 31.43, a P/E/G ratio of 1.42 and a beta of 0.52. The firm has a 50-day simple moving average of $718.77 and a two-hundred day simple moving average of $710.76.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. During the same quarter in the prior year, the business earned $7.88 earnings per share. McKesson’s revenue was up 23.4% on a year-over-year basis. As a group, sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.82 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is 13.08%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,189 shares of company stock valued at $16,722,190. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Wells Fargo & Company raised their price objective on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $834.54.

McKesson Company 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.