Glenview Trust co Sells 27 Shares of McKesson Corporation $MCK

Glenview Trust co reduced its stake in McKesson Corporation (NYSE:MCK) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,862 shares of the company’s stock after selling 27 shares during the quarter. Glenview Trust co’s holdings in McKesson were worth $1,926,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its holdings in McKesson by 54.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company’s stock valued at $3,056,000 after acquiring an additional 1,592 shares during the period. Dynamic Advisor Solutions LLC increased its holdings in shares of McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock worth $524,000 after purchasing an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of McKesson by 18.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock worth $15,501,000 after purchasing an additional 3,659 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of McKesson by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock worth $123,332,000 after purchasing an additional 7,556 shares during the period. Finally, LPL Financial LLC increased its holdings in shares of McKesson by 12.8% during the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock worth $104,950,000 after purchasing an additional 17,750 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent research reports. Evercore ISI raised their target price on shares of McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Morgan Stanley reiterated an “overweight” rating and set a $810.00 price target (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Wells Fargo & Company increased their price target on shares of McKesson from $766.00 to $772.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 13th. Wall Street Zen lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. Finally, Cowen reiterated a “buy” rating on shares of McKesson in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $725.10.

McKesson Price Performance

Shares of McKesson stock opened at $705.88 on Thursday. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89. The firm has a market capitalization of $87.80 billion, a P/E ratio of 28.15, a P/E/G ratio of 1.40 and a beta of 0.51. The company’s 50 day moving average price is $697.99 and its two-hundred day moving average price is $692.62.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same quarter in the prior year, the business earned $7.88 EPS. The business’s quarterly revenue was up 23.4% on a year-over-year basis. On average, analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 19,371 shares of McKesson stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares in the company, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,560 shares of company stock worth $30,438,602. 0.08% of the stock is owned by company insiders.

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.