McKesson Co. (NYSE:MCK) Shares Sold by Commerce Bank

Commerce Bank cut its position in shares of McKesson Co. (NYSE:MCK) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,653 shares of the company’s stock after selling 17,128 shares during the period. Commerce Bank owned 0.11% of McKesson worth $79,590,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Frank Rimerman Advisors LLC boosted its stake in shares of McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after buying an additional 17 shares during the period. Old North State Trust LLC increased its position in McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after acquiring an additional 18 shares during the period. Trust Co. of Vermont raised its stake in McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares during the last quarter. Hemington Wealth Management lifted its position in McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after acquiring an additional 18 shares during the period. Finally, First Western Trust Bank grew its stake in shares of McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock valued at $531,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 over the last three months. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MCK shares. Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Bank of America increased their price target on shares of McKesson from $665.00 to $755.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Finally, Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $668.50.

McKesson Stock Up 0.4 %

Shares of MCK stock opened at $697.22 on Friday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32. The business has a fifty day simple moving average of $650.16 and a 200-day simple moving average of $598.04. The stock has a market cap of $87.38 billion, a P/E ratio of 31.92, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson’s payout ratio is 13.00%.

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.