McKesson Co. (NYSE:MCK) Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co cut its stake in McKesson Co. (NYSE:MCK) by 8.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 916 shares of the company’s stock after selling 86 shares during the period. Heartland Bank & Trust Co’s holdings in McKesson were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of MCK. LRI Investments LLC acquired a new position in shares of McKesson in the first quarter valued at about $28,000. Register Financial Advisors LLC acquired a new position in McKesson in the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in McKesson during the 4th quarter valued at approximately $31,000. Rise Advisors LLC acquired a new stake in McKesson during the 1st quarter valued at approximately $40,000. Finally, Carolinas Wealth Consulting LLC boosted its holdings in shares of McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MCK. JPMorgan Chase & Co. lifted their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Argus boosted their price target on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Mizuho raised their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $613.36.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 11,259 shares of company stock worth $6,635,492. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Up 1.3 %

Shares of NYSE MCK opened at $494.42 on Tuesday. The stock has a market cap of $64.24 billion, a PE ratio of 22.09, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The company has a 50-day moving average of $549.07 and a 200 day moving average of $555.57.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.27 EPS. On average, sell-side analysts forecast that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is 12.69%.

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.