McKesson Co. (NYSE:MCK) Stock Position Decreased by American Trust

American Trust cut its stake in shares of McKesson Co. (NYSE:MCK) by 12.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,357 shares of the company’s stock after selling 191 shares during the period. American Trust’s holdings in McKesson were worth $793,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Steward Partners Investment Advisory LLC boosted its holdings in shares of McKesson by 30.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,670 shares of the company’s stock worth $773,000 after buying an additional 386 shares during the period. NEOS Investment Management LLC boosted its stake in McKesson by 26.9% in the 4th quarter. NEOS Investment Management LLC now owns 1,887 shares of the company’s stock worth $874,000 after purchasing an additional 400 shares during the period. Peapack Gladstone Financial Corp grew its position in McKesson by 5.0% during the 4th quarter. Peapack Gladstone Financial Corp now owns 8,681 shares of the company’s stock worth $4,019,000 after purchasing an additional 414 shares in the last quarter. Lake Street Advisors Group LLC purchased a new position in McKesson during the 4th quarter worth approximately $714,000. Finally, Capital International Investors raised its stake in McKesson by 50.6% during the 4th quarter. Capital International Investors now owns 219,532 shares of the company’s stock valued at $101,639,000 after purchasing an additional 73,745 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Argus lifted 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 lifted their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird reissued a “neutral” rating and set a $531.00 target price (down previously from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $613.36.

McKesson Price Performance

NYSE MCK opened at $498.48 on Wednesday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock’s 50-day moving average is $547.33 and its two-hundred day moving average is $555.33. The firm has a market cap of $64.77 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

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

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a $0.71 dividend. The ex-dividend date was Friday, August 30th. 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 yield of 0.57%. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $44,094,604.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

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.