Hilltop National Bank Lowers Holdings in McKesson Co. (NYSE:MCK)

Hilltop National Bank reduced its stake in McKesson Co. (NYSE:MCK) by 58.6% during the fourth quarter, HoldingsChannel reports. The fund owned 1,584 shares of the company’s stock after selling 2,241 shares during the period. Hilltop National Bank’s holdings in McKesson were worth $903,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MCK. ST Germain D J Co. Inc. increased its stake in McKesson by 350.0% during the 4th quarter. ST Germain D J Co. Inc. now owns 117 shares of the company’s stock valued at $67,000 after purchasing an additional 91 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of McKesson by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 180,871 shares of the company’s stock valued at $103,080,000 after acquiring an additional 1,260 shares in the last quarter. Fortitude Family Office LLC raised its holdings in McKesson by 25.4% in the 4th quarter. Fortitude Family Office LLC now owns 262 shares of the company’s stock worth $149,000 after acquiring an additional 53 shares during the last quarter. Legacy Private Trust Co. lifted its position in McKesson by 1.0% in the 4th quarter. Legacy Private Trust Co. now owns 15,518 shares of the company’s stock valued at $8,844,000 after acquiring an additional 150 shares in the last quarter. Finally, Fulton Bank N.A. boosted its stake in McKesson by 6.2% during the 4th quarter. Fulton Bank N.A. now owns 7,450 shares of the company’s stock valued at $4,246,000 after purchasing an additional 434 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MCK shares. Citigroup upped their price target on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $648.71.

McKesson Trading Up 0.0 %

McKesson stock traded up $0.29 during mid-day trading on Friday, hitting $590.55. The stock had a trading volume of 109,653 shares, compared to its average volume of 532,282. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The firm has a market capitalization of $74.96 billion, a P/E ratio of 30.58, a P/E/G ratio of 1.25 and a beta of 0.52. The firm’s 50 day moving average is $591.44 and its 200 day moving average is $561.65.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (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 firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the business posted $6.23 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio is 14.71%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at $869,854.83. The trade was a 28.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

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.