Glenview Trust co Has $1.65 Million Holdings in McKesson Co. (NYSE:MCK)

Glenview Trust co lowered its position in shares of McKesson Co. (NYSE:MCK) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,889 shares of the company’s stock after selling 108 shares during the period. Glenview Trust co’s holdings in McKesson were worth $1,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the third quarter worth approximately $31,000. Synergy Asset Management LLC bought a new stake in McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson during the fourth quarter worth $33,000. Finally, Atala Financial Inc bought a new position in shares of McKesson in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research reports. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Stock Up 1.1 %

McKesson stock opened at $650.96 on Monday. The company has a market capitalization of $81.58 billion, a PE ratio of 29.81, a P/E/G ratio of 1.29 and a beta of 0.52. The firm has a fifty day simple moving average of $608.54 and a two-hundred day simple moving average of $570.95. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $663.62.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s dividend payout ratio is presently 13.00%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was 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 approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock worth $11,187,351 over the last quarter. 0.11% of the stock is 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.