McKesson Corporation $MCK Shares Sold by Private Trust Co. NA

Private Trust Co. NA lowered its holdings in McKesson Corporation (NYSE:MCK) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,767 shares of the company’s stock after selling 299 shares during the period. Private Trust Co. NA’s holdings in McKesson were worth $1,294,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Northern Trust Corp grew its position in McKesson by 0.7% in the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after buying an additional 10,179 shares during the last quarter. Boston Partners boosted its stake in shares of McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after acquiring an additional 365,484 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of McKesson by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,290,116 shares of the company’s stock worth $868,237,000 after acquiring an additional 107,638 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of McKesson by 16.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock worth $864,712,000 after purchasing an additional 181,831 shares during the period. Finally, Invesco Ltd. raised its position in shares of McKesson by 0.7% during the first quarter. Invesco Ltd. now owns 1,061,744 shares of the company’s stock worth $714,543,000 after purchasing an additional 7,108 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

MCK stock opened at $788.27 on Friday. The firm has a 50 day simple moving average of $716.48 and a 200 day simple moving average of $709.96. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $793.97. The stock has a market cap of $98.05 billion, a P/E ratio of 31.43, a P/E/G ratio of 1.40 and a beta of 0.52.

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

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change 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%. McKesson’s payout ratio is 13.08%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MCK shares. Bank of America lifted their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Cowen restated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Jefferies Financial Group raised their price objective on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday. Finally, UBS Group lifted their price objective on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $834.54.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,189 shares of company stock worth $16,722,190 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

McKesson 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.