Bokf Na Sells 137 Shares of McKesson Co. (NYSE:MCK)

Bokf Na trimmed its position in shares of McKesson Co. (NYSE:MCK) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,099 shares of the company’s stock after selling 137 shares during the period. Bokf Na’s holdings in McKesson were worth $642,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Achmea Investment Management B.V. grew its holdings in McKesson by 1.7% in the second quarter. Achmea Investment Management B.V. now owns 41,453 shares of the company’s stock worth $24,210,000 after purchasing an additional 691 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in McKesson by 39.1% in the second quarter. Jupiter Asset Management Ltd. now owns 115,162 shares of the company’s stock worth $67,259,000 after purchasing an additional 32,380 shares during the last quarter. American Century Companies Inc. boosted its holdings in McKesson by 134.6% in the second quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock worth $128,850,000 after purchasing an additional 126,567 shares during the last quarter. Wellington Shields & Co. LLC raised its position in McKesson by 42.2% in the second quarter. Wellington Shields & Co. LLC now owns 2,170 shares of the company’s stock worth $1,267,000 after acquiring an additional 644 shares during the period. Finally, LPL Financial LLC raised its position in McKesson by 12.6% in the second quarter. LPL Financial LLC now owns 135,732 shares of the company’s stock worth $79,273,000 after acquiring an additional 15,200 shares during the period. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday. Citigroup reduced their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Robert W. Baird reduced their target price on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Argus upped their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Leerink Partners cut their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $620.93.

McKesson Stock Performance

Shares of MCK opened at $518.81 on Monday. McKesson Co. has a fifty-two week low of $417.65 and a fifty-two week high of $637.51. The company has a 50 day moving average price of $567.33 and a 200-day moving average price of $557.76. The stock has a market capitalization of $67.28 billion, a PE ratio of 23.18, a PEG 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 analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion during 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 business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $7.27 earnings per share. Equities research analysts forecast that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.55%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is presently 12.69%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the sale, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 11,259 shares of company stock worth $6,635,492 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

About McKesson

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.