Diversified Trust Co Purchases 931 Shares of McKesson Co. (NYSE:MCK)

Diversified Trust Co grew its position in shares of McKesson Co. (NYSE:MCK) by 14.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,570 shares of the company’s stock after buying an additional 931 shares during the quarter. Diversified Trust Co’s holdings in McKesson were worth $4,064,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MCK. Sachetta LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $27,000. Register Financial Advisors LLC purchased a new stake in shares of McKesson during the 1st quarter worth approximately $29,000. BKM Wealth Management LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $31,000. Richardson Financial Services Inc. purchased a new stake in shares of McKesson during the 4th quarter worth approximately $31,000. Finally, Carolinas Wealth Consulting LLC increased its stake in shares of McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK traded up $0.42 during midday trading on Monday, hitting $584.46. 212,729 shares of the company traded hands, compared to its average volume of 707,384. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $612.17. The stock has a 50-day moving average price of $565.88 and a 200 day moving average price of $525.49. The firm has a market cap of $75.94 billion, a P/E ratio of 26.26, a P/E/G ratio of 1.37 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.19 EPS. As a group, equities analysts expect that McKesson Co. will post 31.54 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Analysts Set New Price Targets

A number of research firms recently weighed in on MCK. Wells Fargo & Company lifted their price objective on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Citigroup lifted their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Bank of America lifted their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Evercore ISI lifted their price objective on shares of McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Finally, Robert W. Baird boosted their price target on shares of McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $590.47.

Insiders Place Their Bets

In other news, Director Maria Martinez sold 483 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Maria Martinez sold 483 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $392,895.36. Following the completion of the sale, the executive vice president now owns 2,215 shares in the company, valued at approximately $1,236,169.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,814 shares of company stock worth $14,511,649. 0.11% of the stock is currently owned by company insiders.

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.