Whittier Trust Co. of Nevada Inc. Has $7.62 Million Holdings in McKesson Corporation (NYSE:MCK)

Whittier Trust Co. of Nevada Inc. increased its position in McKesson Corporation (NYSE:MCK - Free Report) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,325 shares of the company's stock after acquiring an additional 703 shares during the period. Whittier Trust Co. of Nevada Inc.'s holdings in McKesson were worth $7,621,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. increased its stake in McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after buying an additional 222,496 shares during the period. Geode Capital Management LLC increased its position in shares of McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after acquiring an additional 10,015 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of McKesson by 4.6% during 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 boosted its holdings in shares of McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after purchasing an additional 2,389,992 shares during the period. Finally, Norges Bank acquired a new stake in McKesson in the fourth quarter valued at approximately $1,200,361,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of analyst reports. Bank of America lifted 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 lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Evercore ISI boosted their price target on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and an average target price of $710.17.

McKesson Stock Performance

McKesson stock traded up $4.75 during trading hours on Wednesday, reaching $715.57. 418,188 shares of the company's stock traded hands, compared to its average volume of 922,333. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89. The firm has a market capitalization of $89.52 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.42 and a beta of 0.48. The firm's 50 day moving average is $715.73 and its 200-day moving average is $664.96.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. McKesson's revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the business posted $6.18 EPS. Analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson's payout ratio is 10.99%.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer directly owned 1,972 shares of the company's stock, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Britt J. Vitalone sold 1,878 shares of the company'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 value of $1,348,234.98. Following the transaction, the chief financial officer directly owned 14,028 shares of the company's stock, valued at approximately $10,070,841.48. This trade represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,488 shares of company stock worth $37,242,862 in the last quarter. Company insiders own 0.08% of the company's stock.

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.