McKesson Corporation $MCK Shares Acquired by Park National Corp OH

Park National Corp OH boosted its position in McKesson Corporation (NYSE:MCK) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,676 shares of the company’s stock after purchasing an additional 619 shares during the quarter. Park National Corp OH’s holdings in McKesson were worth $12,110,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. Solstein Capital LLC grew its stake in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the period. State of Wyoming acquired a new stake in shares of McKesson during the second quarter worth $29,000. GFG Capital LLC acquired a new position in McKesson in the second quarter valued at $30,000. Delos Wealth Advisors LLC purchased a new position in McKesson during the second quarter worth about $35,000. Finally, Saudi Central Bank acquired a new stake in McKesson in the 1st quarter worth about $34,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Cowen restated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Mizuho upped their price objective on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 target price on shares of McKesson in a report on Thursday, November 6th. Leerink Partners upped their price target on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Jefferies Financial Group raised their price objective on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $892.86.

McKesson Trading Up 1.1%

Shares of NYSE MCK opened at $823.15 on Tuesday. The stock has a fifty day moving average price of $821.84 and a 200 day moving average price of $749.35. The company has a market cap of $101.60 billion, a P/E ratio of 25.62, a P/E/G ratio of 1.34 and a beta of 0.38. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $895.58.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.07 earnings per share. On average, sell-side analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

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.