Fulton Bank N.A. Has $4.25 Million Holdings in McKesson Co. (NYSE:MCK)

Fulton Bank N.A. lifted its holdings in McKesson Co. (NYSE:MCK) by 6.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,450 shares of the company’s stock after purchasing an additional 434 shares during the period. Fulton Bank N.A.’s holdings in McKesson were worth $4,246,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MCK. Massachusetts Financial Services Co. MA raised its holdings in McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares in the last quarter. FMR LLC lifted its stake in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. Geode Capital Management LLC grew its holdings in McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares during the period. Legal & General Group Plc increased its position in McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after buying an additional 36,583 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after buying an additional 425,875 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MCK. Citigroup boosted their target price on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two 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 company’s stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $648.71.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is owned by insiders.

McKesson Stock Up 0.2 %

Shares of NYSE:MCK traded up $1.20 during midday trading on Wednesday, hitting $586.44. The stock had a trading volume of 161,282 shares, compared to its average volume of 545,022. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company has a market capitalization of $74.44 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. The company’s 50-day moving average price is $587.85 and its 200-day moving average price is $561.25.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $6.23 earnings per share. Research analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is 14.71%.

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.