First Hawaiian Bank Sells 251 Shares of McKesson Co. (NYSE:MCK)

First Hawaiian Bank lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,600 shares of the company’s stock after selling 251 shares during the period. First Hawaiian Bank’s holdings in McKesson were worth $2,052,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wolff Wiese Magana LLC boosted its position in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in McKesson in the third quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the third quarter worth $31,000. ORG Wealth Partners LLC bought a new position in shares of McKesson during the third quarter valued at $40,000. Finally, Centennial Bank AR purchased a new position in shares of McKesson in the 2nd quarter worth about $53,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.7 %

Shares of NYSE:MCK opened at $589.60 on Thursday. The stock has a market capitalization of $74.84 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. The firm’s 50 day moving average price is $589.65 and its 200-day moving average price is $561.45. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

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

McKesson Dividend Announcement

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

Analysts Set New Price Targets

MCK has been the topic of several recent analyst reports. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Evercore ISI raised their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Citigroup upped their price objective on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday. Finally, Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $648.71.

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.