McKesson Corporation $MCK Stock Position Lowered by First National Trust Co

First National Trust Co lessened its position in McKesson Corporation (NYSE:MCK) by 8.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,021 shares of the company’s stock after selling 180 shares during the period. First National Trust Co’s holdings in McKesson were worth $1,481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCK. Solstein Capital LLC raised its stake in shares of McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Bank of Jackson Hole Trust raised its stake in shares of McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after buying an additional 41 shares in the last quarter. GFG Capital LLC acquired a new position in shares of McKesson in the 2nd quarter worth $30,000. Finally, Saudi Central Bank acquired a new position in shares of McKesson in the 1st quarter worth $34,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.7%

Shares of MCK stock opened at $806.13 on Wednesday. McKesson Corporation has a 1-year low of $492.39 and a 1-year high of $812.69. The company has a market capitalization of $100.27 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 1.46 and a beta of 0.52. The stock’s fifty day simple moving average is $734.38 and its 200-day simple moving average is $716.40.

McKesson (NYSE:MCK) last issued its quarterly 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 net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. During the same quarter in the prior year, the firm posted $7.88 EPS. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. On average, sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This trade represents a 74.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 24,189 shares of company stock worth $16,722,190 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCK. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Bank of America lifted their target price on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Evercore ISI lifted their target price on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Finally, Morgan Stanley lifted their target price on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $839.15.

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.