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

On January 9th, 2025, it was reported that First Hawaiian Bank has reduced its stake in McKesson Co. (NYSE:MCK) by selling 251 shares. This sale represents a decrease of 6.5% in their holdings during the 4th quarter of the year. After the sale, First Hawaiian Bank owned a total of 3,600 shares, which were valued at approximately $2,052,000 as of the end of the recent reporting period.

Other institutional investors have also shown interest in McKesson. For instance, Wolff Wiese Magana LLC increased its position in the company by a remarkable 742.9% in the previous quarter, acquiring a total of 59 shares worth around $29,000. Similarly, MidAtlantic Capital Management Inc. and RPg Family Wealth Advisory LLC added new stakes during the same period, both worth $29,000 and $31,000 respectively. ORG Wealth Partners LLC also entered a new position valued at $40,000. Notably, Centennial Bank AR invested about $53,000 in McKesson during the 2nd quarter. Currently, hedge funds and institutional investors hold 85.07% of the company’s stock.

Insider Transactions

In recent insider trading news, Leann B. Smith, an Executive Vice President at McKesson, sold 579 shares of the company on January 2nd. The average sale price was $572.79, making the total value of the transaction approximately $331,645.41. After this sale, Smith now possesses 864 shares valued at about $494,890.56, reflecting a 40.12% decrease in her ownership stake. This transaction was disclosed in a filing made to the SEC.

Current Stock Performance

As of the latest reports, McKesson's stock opened at $589.60. The firm's market capitalization stands at $74.84 billion, with a PE ratio of 30.53. The price-to-earnings-growth ratio is 1.25, and it has a beta of 0.49. The stock has recently shown a 50-day moving average price of $589.65, while the 200-day moving average is $561.45. Over the past year, McKesson shares hit a low of $464.42 and a high of $637.51.

McKesson released its quarterly earnings results on November 6th, reporting earnings per share of $7.07, surpassing the consensus estimate of $6.88. The company posted a revenue of $93.65 billion, exceeding predictions of $89.33 billion, marking a notable 21.3% annual increase in revenue compared to the previous year.

Dividend Information

Recently, McKesson announced a quarterly dividend payment, which was made on January 2nd. Shareholders who were on record as of December 2nd received a dividend of $0.71 per share. This results in an annualized dividend of $2.84 and a yield of 0.48%. Currently, the company maintains a dividend payout ratio of 14.71%.

Analyst Ratings and Price Targets

Several analysts have recently evaluated McKesson and set new price targets. For example, Mizuho initiated coverage with a neutral rating and a target price of $630.00. Evercore ISI increased its target from $560.00 to $680.00, giving McKesson an outperform rating. Citigroup raised their target price to $713.00, also assigning a buy rating. Meanwhile, Bank of America downgraded its target from $680.00 to $650.00, suggesting a buy. Another firm, Leerink Partners, lowered its price target from $665.00 to $630.00 while keeping an outperform rating. Currently, the consensus rating on the stock is 'Moderate Buy' with an average target price of $648.71, according to MarketBeat data.

About McKesson Corporation

McKesson Corporation is a major provider of healthcare services, operating not only in the United States but also internationally. The company has four main segments: U.S. Pharmaceutical, Prescription Technology Solutions, Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment plays a crucial role by distributing various types of pharmaceutical products including branded, generic, specialty, biosimilar, and over-the-counter drugs, in addition to other healthcare-related items.

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