McKesson Co. (NYSE:MCK) is Cetera Trust Company N.A’s 3rd Largest Position

Cetera Trust Company N.A reduced its stake in McKesson Co. (NYSE:MCK) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,505 shares of the company’s stock after selling 140 shares during the period. McKesson accounts for about 2.8% of Cetera Trust Company N.A’s holdings, making the stock its 3rd biggest position. Cetera Trust Company N.A’s holdings in McKesson were worth $4,378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock valued at $1,610,567,000 after acquiring an additional 2,389,992 shares during the last quarter. Norges Bank acquired a new position in shares of McKesson in the fourth quarter valued at approximately $1,200,361,000. Farallon Capital Management LLC purchased a new stake in shares of McKesson during the fourth quarter worth approximately $348,044,000. Marshall Wace LLP lifted its holdings in shares of McKesson by 59,720.3% during the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock worth $204,553,000 after purchasing an additional 358,322 shares during the period. Finally, Leigh Baldwin & CO. LLC purchased a new position in McKesson in the 4th quarter valued at $182,861,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MCK shares. Bank of America upped their price objective on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. UBS Group lifted their price target on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Morgan Stanley boosted their price target on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the company an “equal weight” rating in a research note on Tuesday, June 3rd. Finally, Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $692.46.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 341 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president now owns 2,800 shares of the company’s stock, valued at $2,010,148. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the sale, the executive vice president now owns 2,544 shares in the company, valued at $1,811,785.92. This trade represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,747 shares of company stock worth $9,852,587. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.2%

MCK stock opened at $712.99 on Monday. McKesson Co. has a one year low of $464.42 and a one year high of $731.00. The firm has a 50-day moving average of $699.69 and a two-hundred day moving average of $641.34. The firm has a market capitalization of $89.20 billion, a PE ratio of 32.65, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the company posted $6.18 EPS. On average, equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is presently 10.99%.

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.