Central Pacific Bank Trust Division Has $744,000 Holdings in McKesson Co. (NYSE:MCK)

Central Pacific Bank Trust Division grew its stake in McKesson Co. (NYSE:MCK) by 101.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,504 shares of the company’s stock after buying an additional 756 shares during the quarter. Central Pacific Bank Trust Division’s holdings in McKesson were worth $744,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. Centaurus Financial Inc. boosted its holdings in McKesson by 23.4% during the second quarter. Centaurus Financial Inc. now owns 348 shares of the company’s stock worth $203,000 after purchasing an additional 66 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in McKesson by 3.1% during the second quarter. Anchor Investment Management LLC now owns 8,768 shares of the company’s stock worth $5,121,000 after purchasing an additional 263 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in McKesson by 206.7% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 460 shares of the company’s stock worth $269,000 after purchasing an additional 310 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after purchasing an additional 1,393 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in McKesson during the second quarter worth $12,331,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on MCK shares. Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Argus increased their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft cut their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Leerink Partners cut their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $613.36.

McKesson Stock Performance

NYSE:MCK opened at $482.12 on Friday. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The firm has a market cap of $62.64 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 1.18 and a beta of 0.44. The firm’s 50-day simple moving average is $543.03 and its 200 day simple moving average is $554.36.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same period last year, the firm earned $7.27 earnings per share. McKesson’s revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts anticipate that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.59%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by insiders.

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.