McKesson Co. (NYSE:MCK) Shares Bought by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. raised its position in McKesson Co. (NYSE:MCK) by 3.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,895 shares of the company’s stock after acquiring an additional 112 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in McKesson were worth $1,926,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MCK. LRI Investments LLC purchased a new position in McKesson during the 1st quarter valued at about $28,000. Register Financial Advisors LLC purchased a new position in McKesson during the 1st quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new position in McKesson during the 4th quarter valued at about $31,000. Rise Advisors LLC purchased a new position in McKesson during the 1st quarter valued at about $40,000. Finally, ZRC Wealth Management LLC purchased a new position in McKesson during the 1st quarter valued at about $48,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.7 %

MCK traded up $3.15 during trading on Friday, hitting $485.42. 905,019 shares of the company’s stock were exchanged, compared to its average volume of 809,899. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock has a 50 day moving average price of $540.73 and a 200 day moving average price of $554.05. The firm has a market cap of $63.07 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $7.27 earnings per share. Analysts forecast that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a dividend of $0.71 per share. The ex-dividend date was Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. Mizuho raised their price target on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company decreased their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. JPMorgan Chase & Co. raised their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays raised their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $531.00 price target (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $613.36.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

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.