McKesson Corporation $MCK Stock Position Cut by Park National Corp OH

Park National Corp OH lessened its stake in McKesson Corporation (NYSE:MCK) by 6.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,057 shares of the company’s stock after selling 978 shares during the period. Park National Corp OH’s holdings in McKesson were worth $11,033,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. Brighton Jones LLC grew its position in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in McKesson by 21.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,959 shares of the company’s stock valued at $13,654,000 after buying an additional 4,299 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in McKesson in the 4th quarter valued at about $406,000. NorthRock Partners LLC grew its position in McKesson by 114.0% in the 4th quarter. NorthRock Partners LLC now owns 1,348 shares of the company’s stock valued at $768,000 after buying an additional 718 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in McKesson in the 4th quarter valued at about $2,382,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 1.2%

MCK stock opened at $711.32 on Friday. McKesson Corporation has a one year low of $464.42 and a one year high of $737.89. The firm has a market capitalization of $88.48 billion, a PE ratio of 28.36, a P/E/G ratio of 1.43 and a beta of 0.51. The firm has a 50-day moving average of $697.81 and a two-hundred day moving average of $693.98.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. During the same period in the prior year, the company posted $7.88 earnings per share. McKesson’s quarterly revenue was up 23.4% compared to the same quarter last year. On average, equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. This is a boost from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. McKesson’s payout ratio is currently 13.08%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MCK shares. Wall Street Zen downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 13th. Cowen reissued a “buy” rating on shares of McKesson in a report on Thursday, August 7th. Morgan Stanley reissued an “overweight” rating and issued a $810.00 price target (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Wells Fargo & Company upped their price target on shares of McKesson from $766.00 to $772.00 and gave the company an “equal weight” rating in a report on Wednesday, August 13th. Finally, Evercore ISI upped their price target on shares of McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $725.10.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,560 shares of company stock valued at $30,438,602 over the last ninety days. Insiders own 0.08% of the company’s stock.

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.