Heritage Trust Co Makes New $1.45 Million Investment in McKesson Co. (NYSE:MCK)

Heritage Trust Co purchased a new position in shares of McKesson Co. (NYSE:MCK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,549 shares of the company's stock, valued at approximately $1,453,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Frank Rimerman Advisors LLC lifted its stake in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after buying an additional 17 shares in the last quarter. Old North State Trust LLC lifted its position in shares of McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after acquiring an additional 18 shares in the last quarter. Trust Co. of Vermont raised its stake in McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after purchasing an additional 18 shares during the period. Hemington Wealth Management boosted its stake in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after purchasing an additional 18 shares during the period. Finally, First Western Trust Bank grew its holdings in McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock valued at $531,000 after buying an additional 18 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock valued at $10,855,706 over the last quarter. 0.11% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Mizuho increased their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Wells Fargo & Company upped their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Finally, Bank of America lifted their price objective on shares of McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $668.50.

McKesson Trading Down 0.2 %

Shares of MCK traded down $1.55 during trading hours on Tuesday, hitting $692.43. The company had a trading volume of 670,601 shares, compared to its average volume of 883,286. McKesson Co. has a one year low of $464.42 and a one year high of $728.32. The company has a market capitalization of $86.78 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The company's fifty day moving average price is $644.47 and its two-hundred day moving average price is $595.30.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results 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%. Analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson's dividend payout ratio (DPR) is 13.00%.

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.