Trust Point Inc. Has $299,000 Stock Position in McKesson Co. (NYSE:MCK)

Trust Point Inc. cut its holdings in shares of McKesson Co. (NYSE:MCK) by 23.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 524 shares of the company’s stock after selling 160 shares during the quarter. Trust Point Inc.’s holdings in McKesson were worth $299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MCK. Massachusetts Financial Services Co. MA increased its stake in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares during the last quarter. FMR LLC increased its position in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of McKesson by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after buying an additional 425,875 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Citigroup lowered their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $645.79.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

McKesson Trading Down 1.3 %

Shares of McKesson stock opened at $598.85 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The company’s fifty day simple moving average is $589.61 and its 200-day simple moving average is $562.56. The company has a market cap of $76.02 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. As a group, research analysts forecast that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio is currently 14.71%.

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.