Fulton Bank N.A. Sells 568 Shares of McKesson Co. (NYSE:MCK)

Fulton Bank N.A. lessened its holdings in McKesson Co. (NYSE:MCK) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,016 shares of the company’s stock after selling 568 shares during the quarter. Fulton Bank N.A.’s holdings in McKesson were worth $3,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC bought a new position in shares of McKesson during the 1st quarter worth $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson during the 1st quarter worth $29,000. Richardson Financial Services Inc. bought a new position in shares of McKesson during the 4th quarter worth $31,000. Rise Advisors LLC bought a new position in shares of McKesson during the 1st quarter worth $40,000. Finally, ZRC Wealth Management LLC bought a new position in shares of McKesson during the 1st quarter worth $48,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK traded down $1.75 on Monday, hitting $483.67. 792,582 shares of the company were exchanged, compared to its average volume of 809,810. The firm has a fifty day simple moving average of $540.73 and a two-hundred day simple moving average of $554.35. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock has a market capitalization of $62.85 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $7.27 EPS. On average, equities analysts expect that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a $0.71 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, August 30th. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on MCK shares. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Argus raised their target price on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Robert W. Baird restated a “neutral” rating and issued a $531.00 target price (down previously from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Evercore ISI lowered their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $610.86.

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.