Legacy Private Trust Co. Has $9.37 Million Holdings in McKesson Co. (NYSE:MCK)

Legacy Private Trust Co. lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 10.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,917 shares of the company’s stock after selling 1,601 shares during the period. Legacy Private Trust Co.’s holdings in McKesson were worth $9,366,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of MCK. Cibc World Market Inc. raised its stake in McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after buying an additional 1,207 shares during the last quarter. Brentview Investment Management LLC bought a new position in McKesson during the fourth quarter worth $3,018,000. Ingalls & Snyder LLC raised its stake in McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after buying an additional 1,047 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in McKesson by 85.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company’s stock worth $745,000 after buying an additional 580 shares during the last quarter. Finally, OLD National Bancorp IN raised its stake in McKesson by 7.3% during the fourth quarter. OLD National Bancorp IN now owns 8,196 shares of the company’s stock worth $4,671,000 after buying an additional 556 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president now directly owns 2,621 shares in the company, valued at $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the transaction, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,856 shares of company stock worth $7,793,675 over the last three months. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $712.27 on Friday. The stock has a market capitalization of $89.11 billion, a P/E ratio of 32.61, a P/E/G ratio of 1.29 and a beta of 0.53. The company has a 50-day moving average price of $694.04 and a 200-day moving average price of $636.97. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $731.00.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. During the same period in the previous year, the company earned $6.18 earnings per share. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is 10.99%.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. UBS Group lifted their price target on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Morgan Stanley lifted their price target on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company lifted their price target on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $686.69.

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.