Community Bank N.A. Has $758,000 Stock Holdings in McKesson Corporation $MCK

Community Bank N.A. decreased its position in shares of McKesson Corporation (NYSE:MCK) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,035 shares of the company’s stock after selling 25 shares during the period. Community Bank N.A.’s holdings in McKesson were worth $758,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Bank of Jackson Hole Trust boosted its position in shares of McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in shares of McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares in the last quarter. GFG Capital LLC acquired a new stake in shares of McKesson during the 2nd quarter worth approximately $30,000. Saudi Central Bank acquired a new stake in shares of McKesson during the 1st quarter worth approximately $34,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of McKesson during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $782.07 on Wednesday. The company has a fifty day moving average price of $710.10 and a 200-day moving average price of $707.89. The company has a market capitalization of $97.27 billion, a P/E ratio of 31.18, a PEG ratio of 1.39 and a beta of 0.52. McKesson Corporation has a 52-week low of $492.39 and a 52-week high of $783.89.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same period in the prior year, the business earned $7.88 EPS. McKesson’s quarterly revenue was up 23.4% on a year-over-year basis. As a group, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a dividend of $0.82 per share. This is a boost from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s payout ratio is 13.08%.

Wall Street Analyst Weigh In

MCK has been the subject of several research reports. Jefferies Financial Group increased their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company increased their price objective on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. Morgan Stanley increased their price objective on shares of McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Leerink Partners increased their price objective on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, TD Cowen increased their price objective on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $834.54.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,189 shares of company stock valued at $16,722,190 in the last three months. 0.08% 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.