Park National Corp OH Sells 415 Shares of McKesson Co. (NYSE:MCK)

Park National Corp OH trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,256 shares of the company’s stock after selling 415 shares during the quarter. Park National Corp OH’s holdings in McKesson were worth $9,026,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Centaurus Financial Inc. increased its position in shares of McKesson by 23.4% in the second quarter. Centaurus Financial Inc. now owns 348 shares of the company’s stock worth $203,000 after purchasing an additional 66 shares during the last quarter. Anchor Investment Management LLC grew its position in McKesson by 3.1% in the second quarter. Anchor Investment Management LLC now owns 8,768 shares of the company’s stock worth $5,121,000 after acquiring an additional 263 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in McKesson by 206.7% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 460 shares of the company’s stock valued at $269,000 after purchasing an additional 310 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of McKesson by 2,143.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after purchasing an additional 1,393 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of McKesson during the second quarter worth approximately $12,331,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MCK has been the subject of several recent analyst reports. Barclays upped their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company decreased their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Argus boosted their price objective on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 target price (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Finally, Evercore ISI decreased their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $613.36.

McKesson Price Performance

Shares of NYSE:MCK opened at $488.79 on Thursday. The company has a market capitalization of $63.51 billion, a P/E ratio of 21.84, 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. The firm’s 50 day simple moving average is $545.30 and its two-hundred day simple moving average is $554.86.

McKesson (NYSE:MCK) last issued 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 net margin of 0.94% and a negative return on equity of 242.57%. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the prior year, the firm posted $7.27 EPS. McKesson’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.58%. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio is presently 12.69%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

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.