First Citizens Bank & Trust Co. Buys 95 Shares of McKesson Co. (NYSE:MCK)

First Citizens Bank & Trust Co. lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 5.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,841 shares of the company’s stock after acquiring an additional 95 shares during the period. First Citizens Bank & Trust Co.’s holdings in McKesson were worth $910,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Distillate Capital Partners LLC lifted its holdings in shares of McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after acquiring an additional 35,712 shares during the period. Chase Investment Counsel Corp lifted its holdings in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares during the period. Wealthspire Advisors LLC lifted its holdings in shares of McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the period. Councilmark Asset Management LLC bought a new position in shares of McKesson during the 1st quarter worth about $5,160,000. Finally, Vaughan David Investments LLC IL bought a new position in shares of McKesson during the 2nd quarter worth about $238,000. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Argus increased their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Mizuho increased their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Bank of America increased their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Barclays increased 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. Finally, StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Price Performance

Shares of NYSE:MCK opened at $509.20 on Monday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The company has a 50 day moving average of $521.09 and a 200-day moving average of $552.14. The stock has a market cap of $66.16 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter in the previous year, the company earned $7.27 EPS. McKesson’s revenue was up 6.4% on a year-over-year basis. Equities research analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a dividend of $0.71 per share. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. McKesson’s payout ratio is currently 12.69%.

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.