McKesson Co. (NYSE:MCK) Shares Purchased by Central Bank & Trust Co.

Central Bank & Trust Co. increased its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 49.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,014 shares of the company's stock after purchasing an additional 664 shares during the quarter. Central Bank & Trust Co.'s holdings in McKesson were worth $1,355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Parallel Advisors LLC boosted its holdings in shares of McKesson by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after acquiring an additional 16 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after purchasing an additional 17 shares during the period. Eagle Rock Investment Company LLC boosted its holdings in McKesson by 0.4% in the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock valued at $3,229,000 after purchasing an additional 17 shares in the last quarter. Hemington Wealth Management increased its position in McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after purchasing an additional 18 shares during the period. Finally, First Western Trust Bank increased its position in McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after purchasing an additional 18 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

MCK traded down $5.10 during midday trading on Monday, reaching $707.79. 626,472 shares of the company's stock were exchanged, compared to its average volume of 916,850. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00. The stock has a market capitalization of $88.55 billion, a PE ratio of 32.41, a P/E/G ratio of 1.29 and a beta of 0.49. The business's 50-day moving average price is $699.69 and its 200 day moving average price is $641.34.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same period last year, the company posted $6.18 EPS. The company's revenue was up 18.9% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson's dividend payout ratio (DPR) is 10.99%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCK. Bank of America raised their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. Finally, Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average price target of $692.46.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the transaction, the chief executive officer now directly owns 51,243 shares in the company, valued at approximately $36,173,970.99. The trade was a 27.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas L. Rodgers sold 510 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $366,134.10. Following the sale, the executive vice president now owns 5,435 shares in the company, valued at $3,901,840.85. This trade represents a 8.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock valued at $23,526,451 in the last ninety days. Insiders own 0.11% of the company's stock.

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.