McKesson Co. (MCK) Position Increased by Suntrust Banks Inc.

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Suntrust Banks Inc. increased its stake in McKesson Co. (NYSE:MCK) by 44.6% in the first quarter, HoldingsChannel reports. The firm owned 14,943 shares of the company’s stock after purchasing an additional 4,610 shares during the period. Suntrust Banks Inc.’s holdings in McKesson were worth $2,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MCK. Icon Wealth Partners LLC acquired a new stake in McKesson in the 4th quarter worth approximately $111,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in McKesson by 176.6% in the 4th quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 769 shares of the company’s stock worth $130,000 after purchasing an additional 491 shares in the last quarter. Certified Advisory Corp boosted its stake in McKesson by 86.8% in the 1st quarter. Certified Advisory Corp now owns 964 shares of the company’s stock worth $135,000 after purchasing an additional 448 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in McKesson by 61.5% in the 1st quarter. Jacobi Capital Management LLC now owns 985 shares of the company’s stock worth $138,000 after purchasing an additional 375 shares in the last quarter. Finally, Archford Capital Strategies LLC acquired a new stake in McKesson in the 1st quarter worth approximately $142,000. Institutional investors own 90.17% of the company’s stock.

McKesson opened at $134.88 on Tuesday, Marketbeat.com reports. The company has a quick ratio of 0.57, a current ratio of 1.01 and a debt-to-equity ratio of 0.67. The company has a market cap of $26.92 billion, a PE ratio of 10.55, a PEG ratio of 1.25 and a beta of 1.29. McKesson Co. has a 1-year low of $131.43 and a 1-year high of $178.86.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 24th. The company reported $3.49 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.07). The firm had revenue of $51.63 billion for the quarter, compared to analysts’ expectations of $51.36 billion. McKesson had a net margin of 0.03% and a return on equity of 23.55%. McKesson’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $3.41 earnings per share. analysts expect that McKesson Co. will post 13.34 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 2nd. Stockholders of record on Friday, June 1st were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Thursday, May 31st. McKesson’s dividend payout ratio (DPR) is 10.78%.

MCK has been the subject of several research reports. Royal Bank of Canada decreased their price objective on shares of McKesson to $158.00 and set a “market perform” rating for the company in a research note on Friday. ValuEngine cut shares of McKesson from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. Leerink Swann set a $160.00 price objective on shares of McKesson and gave the company a “market perform” rating in a research note on Tuesday, May 29th. Barclays initiated coverage on shares of McKesson in a research note on Thursday, March 8th. They set an “equal weight” rating and a $165.00 price objective for the company. Finally, Bank of America decreased their price objective on shares of McKesson from $179.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday, April 11th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $174.70.

In other news, SVP Erin M. Lampert sold 868 shares of McKesson stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $142.00, for a total transaction of $123,256.00. Following the completion of the transaction, the senior vice president now directly owns 64 shares of the company’s stock, valued at approximately $9,088. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.87% of the stock is owned by insiders.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes branded and generic pharmaceutical drugs, and other healthcare-related products; and provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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