McKesson Corporation $MCK Shares Acquired by Town & Country Bank & Trust CO dba First Bankers Trust CO

Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 22.3% in the second quarter, Holdings Channel reports. The firm owned 2,993 shares of the company’s stock after acquiring an additional 545 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in McKesson were worth $2,193,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new stake in shares of McKesson in the fourth quarter valued at about $26,000. Bank of Jackson Hole Trust boosted its holdings in 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 acquiring an additional 18 shares during the period. CBIZ Investment Advisory Services LLC grew its position in McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. Saudi Central Bank purchased a new stake in shares of McKesson during the first quarter valued at approximately $34,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of McKesson during the first quarter worth $39,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the business’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the sale, the chief executive officer owned 27,872 shares in the company, valued at $19,735,884.48. This trade represents a 41.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by insiders.

McKesson Price Performance

Shares of MCK opened at $697.05 on Tuesday. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The stock has a fifty day moving average price of $694.76 and a 200 day moving average price of $697.18. The company has a market cap of $86.70 billion, a P/E ratio of 27.79, a PEG ratio of 1.39 and a beta of 0.51.

McKesson (NYSE:MCK) last posted 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). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the previous year, the business posted $7.88 earnings per share. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. As a group, research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Analysts Set New Price Targets

MCK has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of McKesson from $766.00 to $772.00 and gave the company an “equal weight” rating in a report on Wednesday, August 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $810.00 target price (up from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research note on Saturday. Cowen restated a “buy” rating on shares of McKesson in a research note on Thursday, August 7th. Finally, Evercore ISI lifted their price objective on McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $725.10.

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.