Fulton Bank N.A. Purchases 434 Shares of McKesson Co. (NYSE:MCK)

Fulton Bank N.A. raised its holdings in McKesson Co. (NYSE:MCK) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,450 shares of the company’s stock after buying an additional 434 shares during the quarter. Fulton Bank N.A.’s holdings in McKesson were worth $4,246,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MCK. Distillate Capital Partners LLC raised its position in McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp raised its holdings in shares of McKesson by 50.8% in the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after buying an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC lifted its position in shares of McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after buying an additional 133 shares during the period. Vaughan David Investments LLC IL acquired a new stake in McKesson in the 2nd quarter valued at $238,000. Finally, Newbridge Financial Services Group Inc. grew its position in McKesson by 2,143.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after acquiring an additional 1,393 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 0.2 %

NYSE MCK traded up $1.20 on Wednesday, reaching $586.44. The company had a trading volume of 161,282 shares, compared to its average volume of 545,022. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The stock’s 50 day moving average is $587.85 and its 200-day moving average is $561.25. The stock has a market cap of $74.44 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm earned $6.23 EPS. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MCK shares. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Finally, Evercore ISI boosted their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.71.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by 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.