Fulton Bank N.A. Reduces Position in McKesson Co. (NYSE:MCK)

Fulton Bank N.A. trimmed its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,678 shares of the company's stock after selling 772 shares during the period. Fulton Bank N.A.'s holdings in McKesson were worth $4,494,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MCK. Brentview Investment Management LLC acquired a new stake in McKesson in the fourth quarter valued at approximately $3,018,000. Ingalls & Snyder LLC boosted its position in shares of McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock valued at $7,878,000 after acquiring an additional 1,047 shares in the last quarter. Chicago Partners Investment Group LLC grew 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 valued at $745,000 after acquiring an additional 580 shares during the period. E. Ohman J or Asset Management AB increased its holdings in shares of McKesson by 12.8% during the fourth quarter. E. Ohman J or Asset Management AB now owns 5,800 shares of the company's stock worth $3,305,000 after buying an additional 660 shares in the last quarter. Finally, Portfolio Design Labs LLC bought a new position in shares of McKesson in the fourth quarter valued at about $274,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America raised their target price on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. UBS Group boosted their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley raised their target price on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Three investment 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 an average rating of "Moderate Buy" and a consensus target price of $692.46.

McKesson Trading Up 0.2%

MCK stock traded up $1.39 during trading on Friday, hitting $712.99. The company had a trading volume of 544,199 shares, compared to its average volume of 916,474. The stock has a market cap of $89.20 billion, a PE ratio of 32.65, a PEG ratio of 1.29 and a beta of 0.53. The business has a 50-day moving average of $699.69 and a 200-day moving average of $641.11. 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 issued its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same period last year, the business posted $6.18 EPS. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. Research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president now directly owns 2,544 shares in the company, valued at $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 341 shares of the firm's stock in a transaction that occurred 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 owns 2,800 shares of the company's stock, valued at approximately $2,010,148. The trade was a 10.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,747 shares of company stock valued at $9,852,587. Corporate 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.