Trust Co. of Vermont Cuts Stock Position in McKesson Co. (NYSE:MCK)

Trust Co. of Vermont trimmed its position in shares of McKesson Co. (NYSE:MCK) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 319 shares of the company’s stock after selling 20 shares during the quarter. Trust Co. of Vermont’s holdings in McKesson were worth $148,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MCK. ICA Group Wealth Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $40,000. SageView Advisory Group LLC purchased a new stake in shares of McKesson during the fourth quarter worth $710,000. Richardson Financial Services Inc. acquired a new stake in shares of McKesson in the fourth quarter valued at $31,000. Vima LLC purchased a new position in McKesson in the fourth quarter valued at $250,000. Finally, Syon Capital LLC grew its stake in McKesson by 40.7% during the 4th quarter. Syon Capital LLC now owns 2,538 shares of the company’s stock worth $1,175,000 after purchasing an additional 734 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares in the company, valued at $51,607,866.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at approximately $51,607,866.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,814 shares of company stock valued at $14,511,649. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MCK shares. SVB Leerink started coverage on McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Barclays increased their price objective on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. UBS Group lifted their price objective on shares of McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Morgan Stanley boosted their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $571.47.

McKesson Stock Performance

MCK opened at $597.45 on Tuesday. McKesson Co. has a one year low of $395.30 and a one year high of $598.75. The stock has a market capitalization of $77.66 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 1.38 and a beta of 0.47. The business’s 50-day simple moving average is $552.34 and its 200-day simple moving average is $516.61.

McKesson (NYSE:MCK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.19 EPS. On average, equities research analysts forecast that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio is currently 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.