McKesson Co. (NYSE:MCK) Shares Acquired by Montecito Bank & Trust

Montecito Bank & Trust increased its stake in shares of McKesson Co. (NYSE:MCK) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,699 shares of the company’s stock after purchasing an additional 147 shares during the quarter. Montecito Bank & Trust’s holdings in McKesson were worth $1,334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in McKesson in the first quarter valued at about $28,000. Wolff Wiese Magana LLC lifted its holdings in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of McKesson during the 3rd quarter worth $40,000. Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson during the 2nd quarter worth $52,000. Finally, Centennial Bank AR purchased a new position in shares of McKesson in the 2nd quarter valued at about $53,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on MCK shares. Barclays upped their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $531.00 to $688.00 in a report on Thursday. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday. Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Mizuho raised their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $625.64.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

Shares of MCK opened at $549.31 on Thursday. The company’s 50 day simple moving average is $510.96 and its 200 day simple moving average is $550.61. The company has a market capitalization of $71.23 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 1.23 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period in the prior year, the firm posted $7.27 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts expect that McKesson Co. will post 31.92 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.52%. McKesson’s dividend payout ratio is presently 12.70%.

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.