Legacy Private Trust Co. Has $8.84 Million Holdings in McKesson Co. (NYSE:MCK)

Legacy Private Trust Co. raised its position in shares of McKesson Co. (NYSE:MCK) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,518 shares of the company’s stock after buying an additional 150 shares during the period. Legacy Private Trust Co.’s holdings in McKesson were worth $8,844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC raised its position in McKesson by 4.2% in the 2nd quarter. Private Advisor Group LLC now owns 11,467 shares of the company’s stock valued at $6,697,000 after purchasing an additional 462 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of McKesson by 254.0% in the second quarter. Los Angeles Capital Management LLC now owns 2,418 shares of the company’s stock valued at $1,412,000 after buying an additional 1,735 shares during the last quarter. PFG Investments LLC acquired a new position in McKesson during the 2nd quarter worth about $249,000. Prudential PLC grew its holdings in McKesson by 0.4% during the 2nd quarter. Prudential PLC now owns 14,704 shares of the company’s stock worth $8,588,000 after acquiring an additional 52 shares during the last quarter. Finally, Wedbush Securities Inc. increased its position in McKesson by 1.9% in the 2nd quarter. Wedbush Securities Inc. now owns 1,680 shares of the company’s stock valued at $981,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK traded up $4.36 during midday trading on Wednesday, reaching $589.60. 526,011 shares of the stock were exchanged, compared to its average volume of 619,114. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The company has a market capitalization of $74.84 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 1.25 and a beta of 0.49. The business has a 50-day simple moving average of $587.85 and a two-hundred day simple moving average of $561.25.

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

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup increased their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Wells Fargo & Company boosted their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Evercore ISI boosted their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.71.

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.