Trustmark Bank Trust Department Has $4.01 Million Stake in McKesson Corporation $MCK

Trustmark Bank Trust Department lifted its stake in McKesson Corporation (NYSE:MCK) by 4.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,476 shares of the company’s stock after purchasing an additional 217 shares during the quarter. Trustmark Bank Trust Department’s holdings in McKesson were worth $4,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MCK. Legacy Capital Wealth Partners LLC lifted its position in McKesson by 5.8% in the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 836 shares of the company’s stock worth $612,000 after buying an additional 46 shares in the last quarter. West Family Investments Inc. increased its stake in shares of McKesson by 36.3% in the second quarter. West Family Investments Inc. now owns 1,945 shares of the company’s stock worth $1,425,000 after acquiring an additional 518 shares during the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of McKesson during the second quarter worth $39,000. Skandinaviska Enskilda Banken AB publ boosted its position in McKesson by 36.8% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 123,246 shares of the company’s stock valued at $90,312,000 after purchasing an additional 33,181 shares during the last quarter. Finally, Norges Bank purchased a new position in McKesson in the second quarter valued at about $1,346,661,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MCK shares. Jefferies Financial Group lifted their price target on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Citigroup raised their price objective on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Bank of America increased their price target on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Wells Fargo & Company lifted their price objective on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $887.69.

McKesson Trading Down 0.5%

Shares of McKesson stock opened at $879.00 on Friday. The firm has a fifty day simple moving average of $807.11 and a 200-day simple moving average of $741.23. The stock has a market capitalization of $108.49 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 1-year low of $558.13 and a 1-year high of $895.58.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $7.07 EPS. As a group, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s payout ratio is currently 10.21%.

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.