Truist Financial Corp Has $46.98 Million Stock Position in McKesson Co. (NYSE:MCK)

Truist Financial Corp lessened its holdings in McKesson Co. (NYSE:MCK) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,471 shares of the company’s stock after selling 12,811 shares during the period. Truist Financial Corp’s holdings in McKesson were worth $46,979,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Raymond James & Associates raised its stake in shares of McKesson by 6.1% in the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock worth $70,919,000 after purchasing an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after acquiring an additional 5,425 shares in the last quarter. Insight Wealth Strategies LLC bought a new position in McKesson during the 4th quarter valued at $1,813,000. Aspire Private Capital LLC boosted its holdings in McKesson by 3.2% during the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock worth $851,000 after acquiring an additional 60 shares during the last quarter. Finally, Argus Investors Counsel Inc. bought a new stake in shares of McKesson in the 4th quarter worth $891,000. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. SVB Leerink began coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. UBS Group lifted their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Trading Up 0.6 %

MCK opened at $543.30 on Friday. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $544.81. The company has a market cap of $71.40 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.44 and a beta of 0.45. The company has a 50 day moving average of $528.15 and a 200 day moving average of $489.72.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter in the prior year, the business posted $6.90 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts forecast that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio is presently 11.24%.

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.