CENTRAL TRUST Co Has $4.49 Million Stock Holdings in McKesson Co. (NYSE:MCK)

CENTRAL TRUST Co lowered its stake in McKesson Co. (NYSE:MCK) by 10.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,079 shares of the company’s stock after selling 1,046 shares during the period. CENTRAL TRUST Co’s holdings in McKesson were worth $4,489,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sunbelt Securities Inc. grew its holdings in shares of McKesson by 10.9% during the first quarter. Sunbelt Securities Inc. now owns 846 shares of the company’s stock worth $454,000 after purchasing an additional 83 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in McKesson by 43.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,426 shares of the company’s stock worth $766,000 after acquiring an additional 433 shares during the last quarter. 180 Wealth Advisors LLC acquired a new position in McKesson in the 1st quarter valued at approximately $775,000. Hennessy Advisors Inc. bought a new position in shares of McKesson during the first quarter valued at $3,006,000. Finally, Register Financial Advisors LLC acquired a new position in shares of McKesson during the first quarter worth $29,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated 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 directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MCK shares. Barclays raised their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. 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 report on Tuesday, September 24th. Leerink Partners dropped their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Evercore ISI reduced their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Trading Up 0.6 %

MCK opened at $504.96 on Friday. The company has a market cap of $65.61 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The company has a fifty day moving average price of $518.29 and a two-hundred day moving average price of $551.37. McKesson Co. has a 1-year low of $431.35 and a 1-year 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, topping analysts’ consensus estimates of $7.21 by $0.67. The business 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 revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.27 EPS. On average, research analysts forecast that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

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

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.