Trustmark National Bank Trust Department Sells 363 Shares of McKesson Co. (NYSE:MCK)

Trustmark National Bank Trust Department lowered its position in McKesson Co. (NYSE:MCK) by 6.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,334 shares of the company’s stock after selling 363 shares during the period. Trustmark National Bank Trust Department’s holdings in McKesson were worth $2,637,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. LRI Investments LLC acquired a new position in McKesson in the first quarter valued at $28,000. Wolff Wiese Magana LLC raised its position in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at about $29,000. ORG Wealth Partners LLC bought a new stake in shares of McKesson during the 3rd quarter valued at about $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in McKesson during the second quarter worth approximately $52,000. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on MCK shares. Barclays boosted their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Evercore ISI raised their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup upped their price objective on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $631.57.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $621.29 on Thursday. The firm has a 50-day moving average of $526.55 and a 200-day moving average of $556.24. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The company has a market cap of $78.87 billion, a P/E ratio of 32.17, a P/E/G ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.23 EPS. As a group, research analysts expect that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

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.