Sanibel Captiva Trust Company Inc. Buys 397 Shares of McKesson Co. (NYSE:MCK)

Sanibel Captiva Trust Company Inc. lifted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,614 shares of the company's stock after acquiring an additional 397 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in McKesson were worth $25,987,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MCK. T. Rowe Price Investment Management Inc. raised its holdings in McKesson by 8.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after buying an additional 222,496 shares during the last quarter. Geode Capital Management LLC boosted its stake in McKesson by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after purchasing an additional 10,015 shares during the period. Franklin Resources Inc. increased its holdings in shares of McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after purchasing an additional 114,396 shares during the period. GAMMA Investing LLC raised its position in shares of McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after buying an additional 2,389,992 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of McKesson during the 4th quarter valued at about $1,200,361,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of NYSE:MCK traded up $12.63 on Thursday, hitting $730.39. The company's stock had a trading volume of 673,005 shares, compared to its average volume of 918,814. The stock's 50-day moving average is $700.42 and its two-hundred day moving average is $642.88. The company has a market capitalization of $91.38 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.17.

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

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is presently 10.99%.

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the sale, the executive vice president now directly owns 2,544 shares in the company, valued at $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MCK shares. UBS Group upped their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Morgan Stanley boosted their price target on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and an average price target of $694.38.

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.