First Hawaiian Bank Buys 1,980 Shares of McKesson Corporation $MCK

Key Points

• First Hawaiian Bank increased its stake in McKesson Corporation by 55% during the 1st quarter, acquiring an additional 1,980 shares, bringing its total holdings to 5,580 shares valued at $3,755,000.
• Insider trading has been notable, with CEO Brian S. Tyler selling 19,371 shares, representing a 41% decrease in his ownership, and a total of 43,560 shares sold by insiders in the past three months.
• McKesson recently announced an increase in its quarterly dividend to $0.82 per share, up from $0.71, representing an annualized yield of 0.5%.

First Hawaiian Bank raised its stake in McKesson Corporation (NYSE:MCK - Free Report) by 55.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,580 shares of the company's stock after acquiring an additional 1,980 shares during the quarter. First Hawaiian Bank's holdings in McKesson were worth $3,755,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its holdings in McKesson by 54.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock valued at $3,056,000 after acquiring an additional 1,592 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in McKesson by 16.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock valued at $524,000 after acquiring an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in McKesson by 18.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after acquiring an additional 3,659 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in McKesson by 4.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after acquiring an additional 7,556 shares during the period. Finally, LPL Financial LLC raised its holdings in McKesson by 12.8% in the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company's stock valued at $104,950,000 after acquiring an additional 17,750 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares of the company's stock, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 19,371 shares of McKesson stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the completion of the transaction, the chief executive officer directly owned 27,872 shares in the company, valued at $19,735,884.48. This trade represents a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,560 shares of company stock worth $30,438,602 over the last three months. 0.08% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of NYSE:MCK opened at $718.72 on Friday. The company's 50 day simple moving average is $697.97 and its 200 day simple moving average is $693.40. The stock has a market capitalization of $89.39 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business's revenue was up 23.4% compared to the same quarter last year. During the same period last year, the business earned $7.88 earnings per share. As a group, analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. This is a positive change from McKesson's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. McKesson's payout ratio is 13.08%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of McKesson from $766.00 to $772.00 and gave the company an "equal weight" rating in a report on Wednesday, August 13th. Cowen reaffirmed a "buy" rating on shares of McKesson in a report on Thursday, August 7th. Evercore ISI raised their target price on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Morgan Stanley reaffirmed an "overweight" rating and set a $810.00 target price (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Finally, Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $725.10.

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.

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