Sanibel Captiva Trust Company Inc. Boosts Stock Holdings in McKesson Co. (NYSE:MCK)

Sanibel Captiva Trust Company Inc. grew its position in McKesson Co. (NYSE:MCK) by 1.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 38,614 shares of the company’s stock after purchasing an additional 397 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in McKesson were worth $25,987,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MCK. Parallel Advisors LLC grew its stake in McKesson by 0.6% in the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company’s stock valued at $1,683,000 after purchasing an additional 16 shares during the period. Frank Rimerman Advisors LLC boosted its holdings in shares of McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after buying an additional 17 shares during the last quarter. Eagle Rock Investment Company LLC grew its position in McKesson by 0.4% during the first quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company’s stock valued at $3,229,000 after buying an additional 17 shares during the period. Hemington Wealth Management increased its holdings in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after buying an additional 18 shares during the last quarter. Finally, First Western Trust Bank raised its position in McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after acquiring an additional 18 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the sale, the chief executive officer now directly owns 51,243 shares of the company’s stock, valued at $36,173,970.99. The trade was a 27.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,117 shares of company stock worth $23,526,451. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MCK shares. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the company an “equal weight” rating in a research note on Tuesday, June 3rd. Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, UBS Group upped their price target on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average target price of $692.46.

McKesson Price Performance

McKesson stock opened at $707.79 on Tuesday. McKesson Co. has a one year low of $464.42 and a one year high of $731.00. The firm has a market capitalization of $88.55 billion, a P/E ratio of 32.41, a PEG ratio of 1.29 and a beta of 0.49. The business has a fifty day moving average price of $699.96 and a 200-day moving average price of $641.93.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm’s revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the company earned $6.18 EPS. Sell-side analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson’s dividend payout ratio is currently 10.99%.

McKesson 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.