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

Sanibel Captiva Trust Company Inc. boosted its position in McKesson Co. (NYSE:MCK) by 0.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 38,217 shares of the company’s stock after purchasing an additional 56 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in McKesson were worth $21,780,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Integrated Investment Consultants LLC lifted its position in McKesson by 3.9% in the fourth quarter. Integrated Investment Consultants LLC now owns 2,198 shares of the company’s stock valued at $1,253,000 after purchasing an additional 82 shares during the last quarter. Brooklyn Investment Group boosted its position in McKesson by 2.6% during the 4th quarter. Brooklyn Investment Group now owns 1,068 shares of the company’s stock valued at $609,000 after buying an additional 27 shares during the period. Merit Financial Group LLC grew its holdings in McKesson by 127.1% in the 4th quarter. Merit Financial Group LLC now owns 10,060 shares of the company’s stock worth $5,734,000 after acquiring an additional 5,630 shares during the last quarter. Avanza Fonder AB purchased a new position in shares of McKesson in the fourth quarter valued at about $7,902,000. Finally, Empirical Asset Management LLC bought a new position in shares of McKesson during the fourth quarter valued at about $19,382,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Evercore ISI boosted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley increased their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Leerink Partners reduced their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Stock Down 0.4 %

MCK opened at $592.69 on Friday. The stock has a market capitalization of $75.24 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.26 and a beta of 0.52. The firm has a 50 day moving average price of $595.51 and a 200-day moving average price of $561.29. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company earned $6.23 earnings per share. As a group, analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s dividend payout ratio is presently 14.71%.

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.