Huntington National Bank Boosts Stock Position in McKesson Co. (NYSE:MCK)

Huntington National Bank raised its stake in McKesson Co. (NYSE:MCK) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,364 shares of the company’s stock after purchasing an additional 128 shares during the quarter. Huntington National Bank’s holdings in McKesson were worth $3,627,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in McKesson in the 4th quarter valued at $1,200,361,000. Janus Henderson Group PLC boosted its holdings in shares of McKesson by 126.8% in the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after acquiring an additional 321,119 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of McKesson during the fourth quarter worth about $178,397,000. Alliancebernstein L.P. lifted its position in McKesson by 46.6% in the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock valued at $487,462,000 after purchasing an additional 272,068 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in McKesson in the 4th quarter valued at approximately $128,125,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $694.12 on Thursday. The stock’s 50 day moving average price is $629.16 and its 200 day moving average price is $582.85. The firm has a market cap of $86.99 billion, a P/E ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $695.46.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,110 shares of company stock valued at $10,855,706. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of analyst reports. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley upped their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $656.71.

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.