Hancock Whitney Corp Grows Stock Position in McKesson Co. (NYSE:MCK)

Hancock Whitney Corp increased its holdings in McKesson Co. (NYSE:MCK) by 0.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,892 shares of the company’s stock after acquiring an additional 24 shares during the period. Hancock Whitney Corp’s holdings in McKesson were worth $1,430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swedbank AB purchased a new position in shares of McKesson during the 1st quarter worth $669,326,000. International Assets Investment Management LLC boosted its stake in McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after buying an additional 734,849 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after acquiring an additional 138,685 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of McKesson by 581.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock valued at $74,776,000 after acquiring an additional 129,031 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of McKesson by 134.6% in the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock worth $128,850,000 after acquiring an additional 126,567 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MCK shares. Citigroup lifted their target price on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Wells Fargo & Company dropped their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $631.57.

McKesson Trading Down 1.0 %

Shares of NYSE:MCK opened at $616.72 on Tuesday. The company has a market cap of $78.29 billion, a PE ratio of 31.94, a P/E/G ratio of 1.35 and a beta of 0.44. The company’s 50 day moving average is $532.91 and its two-hundred day moving average is $557.99. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm earned $6.23 earnings per share. As a group, equities research analysts expect that McKesson Co. will post 32.78 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

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.