Central Pacific Bank Trust Division Has $1.71 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Central Pacific Bank Trust Division raised its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 153.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,535 shares of the company's stock after buying an additional 1,533 shares during the quarter. Central Pacific Bank Trust Division's holdings in McKesson were worth $1,706,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of McKesson in the 4th quarter valued at approximately $1,200,361,000. Farallon Capital Management LLC bought a new stake in McKesson in the 4th quarter valued at approximately $348,044,000. Marshall Wace LLP lifted its stake in McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after acquiring an additional 358,322 shares in the last quarter. Leigh Baldwin & CO. LLC bought a new stake in McKesson in the 4th quarter valued at approximately $182,861,000. Finally, Proficio Capital Partners LLC bought a new stake in McKesson in the 4th quarter valued at approximately $178,397,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 341 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $244,807.31. Following the sale, the executive vice president now directly owns 2,800 shares of the company's stock, valued at approximately $2,010,148. This represents a 10.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the sale, the chief accounting officer now directly owns 1,972 shares in the company, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,856 shares of company stock valued at $7,793,675 in the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

MCK traded up $6.99 during trading hours on Friday, reaching $719.85. The company's stock had a trading volume of 1,322,227 shares, compared to its average volume of 916,780. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00. The company's 50-day moving average is $695.18 and its 200-day moving average is $637.67. The firm has a market cap of $90.06 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

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

McKesson Announces Dividend

The company also recently disclosed 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. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio is 10.99%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MCK shares. Morgan Stanley boosted their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Wells Fargo & Company upped their price objective on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Finally, Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $686.69.

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.