Private Trust Co. NA Has $1.02 Million Position in McKesson Co. (NYSE:MCK)

Private Trust Co. NA lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,055 shares of the company’s stock after purchasing an additional 81 shares during the period. Private Trust Co. NA’s holdings in McKesson were worth $1,016,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. LRI Investments LLC bought a new stake in McKesson in the first quarter valued at approximately $28,000. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the 3rd quarter valued at $29,000. Wolff Wiese Magana LLC increased its position in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. ORG Wealth Partners LLC bought a new position in McKesson during the third quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in McKesson in the second quarter valued at $52,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on MCK shares. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Citigroup upped their price objective on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company reduced their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Mizuho raised their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $631.57.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Down 1.0 %

NYSE MCK opened at $616.72 on Tuesday. The company’s 50 day moving average is $532.91 and its 200-day moving average is $557.99. The firm has a market cap of $78.29 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the company earned $6.23 EPS. The firm’s revenue was up 21.3% compared to the same quarter last year. Equities analysts expect that McKesson Co. will post 32.78 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

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.