Burke & Herbert Bank & Trust Co. Purchases New Holdings in McKesson Co. (NYSE:MCK)

Burke & Herbert Bank & Trust Co. purchased a new stake in McKesson Co. (NYSE:MCK – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 572 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds have also made changes to their positions in the company. State Street Corp increased its stake in McKesson by 1.0% in the 2nd quarter. State Street Corp now owns 6,611,727 shares of the company’s stock valued at $2,159,803,000 after buying an additional 67,443 shares during the period. The Manufacturers Life Insurance Company increased its stake in McKesson by 13.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,186,592 shares of the company’s stock valued at $403,287,000 after buying an additional 137,396 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in McKesson by 53.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock valued at $280,399,000 after buying an additional 320,588 shares during the period. WCM Investment Management LLC acquired a new position in McKesson in the 3rd quarter valued at approximately $302,630,000. Finally, Fred Alger Management LLC increased its stake in McKesson by 11.6% in the 3rd quarter. Fred Alger Management LLC now owns 823,327 shares of the company’s stock valued at $279,824,000 after buying an additional 85,272 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

McKesson Trading Down 0.2 %

NYSE MCK opened at $339.35 on Friday. The company has a fifty day simple moving average of $362.87 and a 200 day simple moving average of $366.41. The company has a market cap of $46.47 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.27 and a beta of 0.59. McKesson Co. has a 1 year low of $292.40 and a 1 year high of $401.78.

McKesson (NYSE:MCK – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The company reported $6.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.36 by $0.54. The business had revenue of $70.49 billion during the quarter, compared to the consensus estimate of $70.98 billion. McKesson had a net margin of 1.15% and a negative return on equity of 216.12%. McKesson’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.15 EPS. Equities research analysts forecast that McKesson Co. will post 25.93 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 1st will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, February 28th. McKesson’s dividend payout ratio is currently 9.88%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 7,416 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total transaction of $2,818,080.00. Following the completion of the sale, the chief executive officer now directly owns 75,737 shares of the company’s stock, valued at approximately $28,780,060. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other McKesson news, CEO Brian S. Tyler sold 7,416 shares of the stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the sale, the chief executive officer now directly owns 75,737 shares of the company’s stock, valued at approximately $28,780,060. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nancy Avila sold 161 shares of the stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $370.02, for a total transaction of $59,573.22. Following the completion of the sale, the executive vice president now directly owns 4,631 shares of the company’s stock, valued at $1,713,562.62. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MCK shares. Robert W. Baird upped their price objective on shares of McKesson from $445.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, February 2nd. Morgan Stanley upped their price objective on shares of McKesson from $420.00 to $426.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. StockNews.com started coverage on shares of McKesson in a research note on Thursday. They set a “strong-buy” rating on the stock. Finally, UBS Group dropped their price target on shares of McKesson from $450.00 to $440.00 and set a “buy” rating on the stock in a research note on Tuesday, January 31st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $416.30.

McKesson Company Profile

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).