First Bancorp Inc ME Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

First Bancorp Inc ME lowered its position in shares of McKesson Co. (NYSE:MCK) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 641 shares of the company’s stock after selling 54 shares during the period. First Bancorp Inc ME’s holdings in McKesson were worth $365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. Chase Investment Counsel Corp increased its position in McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,027 shares during the period. Newbridge Financial Services Group Inc. increased its position in McKesson by 2,143.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after purchasing an additional 1,393 shares during the period. Commerce Bank increased its position in McKesson by 2.0% during the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after purchasing an additional 3,020 shares during the period. Sanctuary Advisors LLC acquired a new position in McKesson during the 2nd quarter worth approximately $12,331,000. Finally, West Oak Capital LLC increased its position in McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 2,690 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $591.47 on Friday. The stock’s 50 day moving average price is $592.65 and its 200 day moving average price is $561.49. The firm has a market cap of $75.08 billion, a P/E ratio of 30.63, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the firm earned $6.23 EPS. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, research analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have issued reports on MCK shares. Wells Fargo & Company boosted their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Finally, Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $646.14.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.11% of the stock is 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.