McKesson Co. (NYSE:MCK) Shares Sold by Bank of Hawaii

Bank of Hawaii lessened its position in McKesson Co. (NYSE:MCK - Free Report) by 41.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,680 shares of the company's stock after selling 2,568 shares during the period. Bank of Hawaii's holdings in McKesson were worth $1,819,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. RFP Financial Group LLC increased its stake in shares of McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company's stock valued at $112,000 after buying an additional 17 shares during the period. Modera Wealth Management LLC raised its stake in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock worth $470,000 after buying an additional 17 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock valued at $639,000 after purchasing an additional 17 shares in the last quarter. First Western Trust Bank grew its position in shares of McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company's stock worth $490,000 after buying an additional 18 shares during the period. Finally, Lester Murray Antman dba SimplyRich increased its stake in shares of McKesson by 0.4% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company's stock valued at $2,935,000 after acquiring an additional 19 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 0.9 %

Shares of MCK stock traded down $5.46 during midday trading on Monday, reaching $617.73. 477,629 shares of the stock were exchanged, compared to its average volume of 817,051. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm has a market cap of $78.41 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. The company's 50 day moving average is $530.98 and its two-hundred day moving average is $557.55.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates 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 for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the business earned $6.23 EPS. As a group, equities analysts expect that McKesson Co. will post 32.78 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is currently 14.71%.

Analyst Ratings Changes

MCK has been the subject of several research analyst reports. Leerink Partners decreased their price target on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Barclays upped their price target on McKesson from $596.00 to $616.00 and gave the stock an "overweight" rating in a research note on Thursday, August 8th. Citigroup boosted their price objective on McKesson from $630.00 to $713.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. Finally, StockNews.com raised shares of McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $631.57.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value 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 represents a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

McKesson Company 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.