Town & Country Bank & Trust CO dba First Bankers Trust CO Buys New Position in McKesson Co. (NYSE:MCK)

Town & Country Bank & Trust CO dba First Bankers Trust CO purchased a new position in shares of McKesson Co. (NYSE:MCK) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,448 shares of the company’s stock, valued at approximately $1,647,000.

Other large investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in shares of McKesson in the fourth quarter worth $26,000. Millstone Evans Group LLC bought a new stake in McKesson during the 4th quarter worth about $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the 4th quarter worth about $32,000. Crews Bank & Trust bought a new position in shares of McKesson in the 4th quarter valued at about $33,000. Finally, Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CFO Britt J. Vitalone sold 6,336 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the sale, the chief financial officer now owns 14,760 shares of the company’s stock, valued at approximately $10,587,348. The trade was a 30.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 1,248 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the transaction, the executive vice president now directly owns 2,621 shares in the company, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,856 shares of company stock worth $7,793,675. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Morgan Stanley raised their target price on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. UBS Group boosted their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Wells Fargo & Company increased their price target on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Finally, Mizuho lifted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $686.69.

McKesson Price Performance

NYSE:MCK opened at $712.27 on Friday. The company has a market cap of $89.11 billion, a P/E ratio of 32.61, a P/E/G ratio of 1.29 and a beta of 0.53. The firm’s fifty day moving average price is $694.04 and its two-hundred day moving average price is $636.97. McKesson Co. has a one year low of $464.42 and a one year high of $731.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. McKesson’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.18 EPS. As a group, equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is 10.99%.

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.