McKesson Co. (NYSE:MCK) Stock Holdings Reduced by Legacy Private Trust Co.

Legacy Private Trust Co. lowered its position in McKesson Co. (NYSE:MCK) by 5.2% during the third quarter, HoldingsChannel.com reports. The firm owned 15,368 shares of the company’s stock after selling 842 shares during the quarter. Legacy Private Trust Co.’s holdings in McKesson were worth $7,598,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Performance

MCK traded down $1.75 during mid-day trading on Tuesday, reaching $483.67. The stock had a trading volume of 792,630 shares, compared to its average volume of 809,810. The stock has a market capitalization of $62.85 billion, a P/E ratio of 21.61, a P/E/G ratio of 1.18 and a beta of 0.44. The firm’s fifty day simple moving average is $540.73 and its two-hundred day simple moving average is $554.35. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $7.27 EPS. As a group, analysts expect that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.59%. The ex-dividend date was Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MCK shares. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Citigroup cut their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Evercore ISI cut their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Leerink Partners cut their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Robert W. Baird reissued a “neutral” rating and set a $531.00 price objective (down previously from $603.00) on shares of McKesson 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 stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Company 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.