Whittier Trust Co. of Nevada Inc. Boosts Holdings in McKesson Co. (NYSE:MCK)

Whittier Trust Co. of Nevada Inc. grew its holdings in shares of McKesson Co. (NYSE:MCK) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,622 shares of the company’s stock after acquiring an additional 116 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in McKesson were worth $6,053,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. FMR LLC raised its stake in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after acquiring an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares in the last quarter. Boston Partners raised its stake in shares of McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company’s stock worth $625,501,000 after acquiring an additional 216,432 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after acquiring an additional 162,688 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $609.59, for a total transaction 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 represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Evercore ISI upped their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Bank of America lowered their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two equities 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 stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Price Performance

NYSE:MCK opened at $659.45 on Friday. The firm’s 50-day moving average price is $616.14 and its 200-day moving average price is $574.33. The company has a market capitalization of $82.65 billion, a PE ratio of 30.19, a P/E/G 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 $670.79.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

McKesson 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.