Massmutual Trust Co. FSB ADV Buys 33 Shares of McKesson Co. (NYSE:MCK)

Massmutual Trust Co. FSB ADV boosted its position in shares of McKesson Co. (NYSE:MCK) by 5.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 687 shares of the company’s stock after purchasing an additional 33 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in McKesson were worth $369,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MCK. Intrust Bank NA bought a new stake in shares of McKesson during the fourth quarter worth approximately $206,000. Raymond James & Associates lifted its stake in shares of McKesson by 6.1% in the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after purchasing an additional 8,784 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of McKesson by 6.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares during the last quarter. Heritage Wealth Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth $1,538,000. Finally, Insight Wealth Strategies LLC bought a new stake in McKesson in the fourth quarter valued at about $1,813,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Britt J. Vitalone sold 894 shares of McKesson stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $498,315.60. Following the transaction, the chief financial officer now owns 16,455 shares of the company’s stock, valued at approximately $9,172,017. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,814 shares of company stock valued at $14,511,649. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MCK shares. Deutsche Bank Aktiengesellschaft reduced their target price on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. TD Cowen lifted their price objective on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Wells Fargo & Company increased their target price on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Evercore ISI boosted their price target on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, Barclays raised their price objective on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $571.47.

McKesson Stock Performance

NYSE:MCK opened at $603.24 on Friday. The company has a market cap of $78.42 billion, a PE ratio of 26.95, a PEG ratio of 1.41 and a beta of 0.47. The stock has a 50-day simple moving average of $556.91 and a 200 day simple moving average of $518.77. McKesson Co. has a 52-week low of $395.30 and a 52-week high of $605.33.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $7.19 earnings per share. On average, research analysts predict that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.41%. McKesson’s payout ratio is presently 11.08%.

McKesson Company 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.