First Hawaiian Bank Raises Holdings in McKesson Co. (NYSE:MCK)

First Hawaiian Bank lifted its holdings in McKesson Co. (NYSE:MCK - Free Report) by 55.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,580 shares of the company's stock after purchasing 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 quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cibc World Market Inc. lifted its position in McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after buying an additional 1,207 shares during the last quarter. Brentview Investment Management LLC bought a new stake in McKesson in the fourth quarter worth $3,018,000. Ingalls & Snyder LLC lifted its position in McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after buying an additional 1,047 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in McKesson by 85.0% in the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock worth $745,000 after buying an additional 580 shares during the last quarter. Finally, OLD National Bancorp IN lifted its position in McKesson by 7.3% in the fourth quarter. OLD National Bancorp IN now owns 8,196 shares of the company's stock worth $4,671,000 after buying an additional 556 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of analyst reports. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday. UBS Group raised their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Mizuho raised their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Finally, Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $686.69.

McKesson Stock Up 1.0%

Shares of MCK stock traded up $6.99 on Friday, hitting $719.85. The stock had a trading volume of 1,322,227 shares, compared to its average volume of 917,774. The business has a 50 day moving average price of $695.18 and a 200 day moving average price of $637.67. The company has a market cap of $90.06 billion, a PE ratio of 32.96, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a one year low of $464.42 and a one year high of $731.00.

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

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 annualized dividend and a dividend yield of 0.39%. McKesson's payout ratio is currently 10.99%.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the completion of the transaction, the executive vice president now owns 2,621 shares of the company's stock, valued at $1,880,043.30. This represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,856 shares of company stock worth $7,793,675. 0.11% of the stock is owned by corporate insiders.

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.