Private Trust Co. NA Has $1.29 Million Stake in McKesson Corporation $MCK

Private Trust Co. NA reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 14.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,767 shares of the company’s stock after selling 299 shares during the quarter. Private Trust Co. NA’s holdings in McKesson were worth $1,294,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. 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 valued at $29,000 after acquiring an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC boosted its position in McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after purchasing an additional 41 shares during the period. GFG Capital LLC acquired a new position in McKesson during the second quarter valued at approximately $30,000. Saudi Central Bank bought a new position in shares of McKesson in the first quarter valued at approximately $34,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of McKesson in the first quarter worth $39,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $788.27 on Friday. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $793.97. The stock has a market cap of $98.05 billion, a PE ratio of 31.43, a PEG ratio of 1.40 and a beta of 0.52. The firm has a 50-day simple moving average of $716.48 and a 200 day simple moving average of $709.96.

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

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is presently 13.08%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MCK shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. UBS Group raised their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Leerink Partners boosted their price objective on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Jefferies Financial Group increased their target price on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday. Finally, Bank of America lifted their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $834.54.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the 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 of the company’s stock, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer directly 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 disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock worth $16,722,190 in the last three months. Insiders own 0.08% of the company’s stock.

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.