Bell Bank Trims Stock Holdings in McKesson Corporation (NYSE:MCK)

Bell Bank lowered its stake in McKesson Corporation (NYSE:MCK) by 5.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 467 shares of the company’s stock after selling 25 shares during the quarter. Bell Bank’s holdings in McKesson were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in McKesson during the 4th quarter worth approximately $26,000. Millstone Evans Group LLC bought a new stake in shares of McKesson during the 4th quarter valued at $28,000. Atala Financial Inc purchased a new position in shares of McKesson during the 4th quarter valued at $34,000. Graney & King LLC bought a new position in McKesson in the 4th quarter worth $38,000. Finally, Creative Capital Management Investments LLC purchased a new stake in McKesson in the 4th quarter worth $44,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of McKesson stock opened at $724.47 on Wednesday. The stock has a market cap of $90.64 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.43 and a beta of 0.49. The stock has a 50 day moving average price of $705.65 and a 200-day moving average price of $645.81. McKesson Corporation has a one year low of $464.42 and a one year high of $732.99.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same period in the previous year, the firm earned $6.18 earnings per share. McKesson’s quarterly revenue was up 18.9% compared to the same quarter last year. Sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson’s dividend payout ratio (DPR) is currently 10.99%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MCK shares. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the company an “equal weight” rating in a research report on Tuesday, June 3rd. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Wall Street Zen lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Saturday. Mizuho lifted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Finally, Morgan Stanley upped their target price on shares of McKesson from $745.00 to $770.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 11th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $694.38.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 341 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the completion of the sale, the executive vice president now owns 2,800 shares of the company’s stock, valued at $2,010,148. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock valued at $23,526,451 over the last 90 days. Insiders own 0.11% of the company’s stock.

About McKesson

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.