McKesson Corporation $MCK Shares Sold by Global Trust Asset Management LLC

Global Trust Asset Management LLC lowered its holdings in McKesson Corporation (NYSE:MCK) by 2.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,170 shares of the company’s stock after selling 135 shares during the period. McKesson makes up 2.0% of Global Trust Asset Management LLC’s holdings, making the stock its 9th biggest holding. Global Trust Asset Management LLC’s holdings in McKesson were worth $3,789,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of Jackson Hole Trust grew its holdings in shares of McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after purchasing an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its holdings in McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares in the last quarter. Saudi Central Bank acquired a new position in McKesson during the 1st quarter worth approximately $34,000. Flaharty Asset Management LLC acquired a new position in McKesson during the 1st quarter worth approximately $39,000. Finally, Pandora Wealth Inc. acquired a new position in McKesson during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’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 transaction of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,560 shares of company stock valued at $30,438,602 in the last three months. Corporate insiders own 0.08% of the company’s stock.

McKesson Trading Up 3.3%

Shares of NYSE MCK opened at $760.82 on Monday. The stock has a market cap of $94.63 billion, a price-to-earnings ratio of 30.34, a PEG ratio of 1.36 and a beta of 0.51. McKesson Corporation has a 52 week low of $479.15 and a 52 week high of $770.00. The company’s 50-day moving average price is $697.79 and its 200 day moving average price is $699.99.

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

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 2nd. McKesson’s payout ratio is 13.08%.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday. Citigroup upped their target price on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen upped their target price on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Evercore ISI upped their target price on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $829.08.

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.