US Bancorp DE Cuts Stake in McKesson Co. (NYSE:MCK)

US Bancorp DE cut its holdings in McKesson Co. (NYSE:MCK) by 0.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,418 shares of the company’s stock after selling 374 shares during the quarter. US Bancorp DE owned approximately 0.07% of McKesson worth $49,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Modera Wealth Management LLC raised its stake in McKesson by 6.5% in the third quarter. Modera Wealth Management LLC now owns 902 shares of the company’s stock worth $392,000 after buying an additional 55 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in McKesson by 13.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 4,747 shares of the company’s stock worth $2,067,000 after purchasing an additional 557 shares in the last quarter. DNB Asset Management AS lifted its position in shares of McKesson by 6.4% during the fourth quarter. DNB Asset Management AS now owns 38,601 shares of the company’s stock valued at $17,871,000 after buying an additional 2,315 shares during the last quarter. Tompkins Financial Corp boosted its holdings in shares of McKesson by 236.6% in the 4th quarter. Tompkins Financial Corp now owns 855 shares of the company’s stock valued at $396,000 after buying an additional 601 shares in the last quarter. Finally, Diversified Trust Co raised its stake in shares of McKesson by 28.8% during the 4th quarter. Diversified Trust Co now owns 6,639 shares of the company’s stock worth $3,074,000 after acquiring an additional 1,485 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MCK shares. TD Cowen lifted their price target on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Morgan Stanley upped their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Bank of America raised their price target on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. UBS Group upped their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Robert W. Baird lifted their target price on shares of McKesson from $679.00 to $694.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $596.00.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 704 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the sale, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at approximately $1,236,169.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Leann B. Smith sold 704 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $392,895.36. Following the completion of the transaction, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at approximately $1,236,169.35. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas L. Rodgers sold 789 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total transaction of $439,788.60. Following the completion of the sale, the executive vice president now directly owns 7,909 shares of the company’s stock, valued at approximately $4,408,476.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,567 shares of company stock valued at $16,691,841. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 1.0 %

Shares of NYSE MCK traded up $5.70 during trading on Tuesday, reaching $583.96. 702,968 shares of the company traded hands, compared to its average volume of 703,866. The stock has a market cap of $75.88 billion, a P/E ratio of 25.83, a PEG ratio of 1.35 and a beta of 0.45. The firm’s fifty day simple moving average is $576.76 and its 200 day simple moving average is $535.81. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $612.17.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.19 earnings per share. As a group, research analysts expect that McKesson Co. will post 31.53 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.42%. McKesson’s dividend payout ratio is presently 11.08%.

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.