McKesson Co. (NYSE:MCK) Shares Purchased by Cambridge Trust Co.

Posted by on Mar 19th, 2023

Cambridge Trust Co. increased its position in shares of McKesson Co. (NYSE:MCK – Get Rating) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 335 shares of the company’s stock after acquiring an additional 41 shares during the period. Cambridge Trust Co.’s holdings in McKesson were worth $126,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MCK. Fairfield Bush & CO. acquired a new position in McKesson during the 1st quarter worth about $46,000. Synovus Financial Corp lifted its stake in McKesson by 4.0% during the 1st quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock worth $673,000 after acquiring an additional 85 shares in the last quarter. Prudential PLC purchased a new stake in McKesson during the 1st quarter worth about $1,610,000. Cetera Investment Advisers increased its holdings in McKesson by 17.8% during the 1st quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock worth $3,012,000 after purchasing an additional 1,490 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in McKesson during the 1st quarter worth about $598,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

McKesson Stock Down 0.2 %

NYSE:MCK opened at $339.35 on Friday. McKesson Co. has a 52-week low of $292.40 and a 52-week high of $401.78. The stock’s 50 day moving average price is $362.87 and its 200 day moving average price is $366.41. The company has a market capitalization of $46.47 billion, a PE ratio of 15.52, a P/E/G ratio of 1.25 and a beta of 0.59.

McKesson (NYSE:MCK – Get Rating) last announced its earnings results on Wednesday, February 1st. The company reported $6.90 EPS for the quarter, beating analysts’ consensus estimates of $6.36 by $0.54. The business had revenue of $70.49 billion for the quarter, compared to analysts’ expectations of $70.98 billion. McKesson had a net margin of 1.15% and a negative return on equity of 216.12%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $6.15 EPS. As a group, sell-side analysts anticipate that McKesson Co. will post 25.93 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Tuesday, February 28th. McKesson’s dividend payout ratio is currently 9.88%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. UBS Group cut their price target on McKesson from $450.00 to $440.00 and set a “buy” rating on the stock in a report on Tuesday, January 31st. StockNews.com assumed coverage on McKesson in a report on Thursday. They set a “strong-buy” rating on the stock. Robert W. Baird upped their price target on McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Finally, Morgan Stanley increased their price objective on McKesson from $420.00 to $426.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $416.30.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 7,416 shares of McKesson stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $380.00, for a total value of $2,818,080.00. Following the transaction, the chief executive officer now directly owns 75,737 shares in the company, valued at approximately $28,780,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other McKesson news, CEO Brian S. Tyler sold 7,416 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total transaction of $2,818,080.00. Following the completion of the transaction, the chief executive officer now owns 75,737 shares in the company, valued at approximately $28,780,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nancy Avila sold 161 shares of McKesson stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $370.02, for a total transaction of $59,573.22. Following the completion of the sale, the executive vice president now directly owns 4,631 shares in the company, valued at approximately $1,713,562.62. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

McKesson Company Profile

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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