UMB Bank n.a. Lowers Stock Position in McKesson Co. (NYSE:MCK)

UMB Bank n.a. trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 32.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,992 shares of the company’s stock after selling 9,993 shares during the quarter. UMB Bank n.a.’s holdings in McKesson were worth $10,379,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in McKesson in the first quarter valued at about $28,000. Register Financial Advisors LLC purchased a new position in McKesson in the 1st quarter worth $29,000. Richardson Financial Services Inc. acquired a new stake in shares of McKesson during the fourth quarter worth about $31,000. Rise Advisors LLC acquired a new stake in shares of McKesson in the first quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson during the second quarter worth $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.5 %

Shares of NYSE MCK traded up $2.50 during midday trading on Thursday, hitting $504.62. The stock had a trading volume of 189,035 shares, compared to its average volume of 806,063. The stock has a 50 day simple moving average of $533.68 and a 200-day simple moving average of $553.37. The company has a market capitalization of $65.57 billion, a PE ratio of 22.42, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last announced its 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 company had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.27 EPS. As a group, analysts expect that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were paid a $0.71 dividend. The ex-dividend date was Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. McKesson’s dividend payout ratio (DPR) is 12.69%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Robert W. Baird reissued a “neutral” rating and issued a $531.00 price target (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Leerink Partners dropped their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday. Mizuho increased their price target on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $610.86.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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.