McKesson Corporation $MCK Stock Position Reduced by First Community Trust NA

First Community Trust NA trimmed its position in McKesson Corporation (NYSE:MCK) by 93.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125 shares of the company’s stock after selling 1,800 shares during the quarter. First Community Trust NA’s holdings in McKesson were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in MCK. Sanders Morris Harris LLC bought a new position in McKesson during the third quarter worth $2,603,000. Graves Light Lenhart Wealth Inc. raised its holdings in shares of McKesson by 13.7% during the third quarter. Graves Light Lenhart Wealth Inc. now owns 1,059 shares of the company’s stock worth $818,000 after purchasing an additional 128 shares during the period. Oak Thistle LLC bought a new position in shares of McKesson in the 3rd quarter worth about $2,233,000. HF Advisory Group LLC boosted its holdings in shares of McKesson by 69.4% in the 3rd quarter. HF Advisory Group LLC now owns 2,070 shares of the company’s stock valued at $1,599,000 after buying an additional 848 shares during the period. Finally, TruWealth Advisors LLC grew its position in shares of McKesson by 5.2% during the 3rd quarter. TruWealth Advisors LLC now owns 1,287 shares of the company’s stock valued at $994,000 after buying an additional 64 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.08% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $809.51 on Wednesday. McKesson Corporation has a 1-year low of $558.13 and a 1-year high of $895.58. The business’s fifty day moving average price is $823.03 and its two-hundred day moving average price is $749.98. The company has a market capitalization of $99.92 billion, a P/E ratio of 25.19, a PEG ratio of 1.35 and a beta of 0.38.

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

McKesson Dividend Announcement

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

Analysts Set New Price Targets

MCK has been the topic of a number of recent research reports. Zacks Research cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a report on Monday. Cowen restated a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Mizuho increased their target price on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, Evercore ISI reissued an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $892.86.

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.