Community Bank N.A. Sells 25 Shares of McKesson Corporation $MCK

Community Bank N.A. cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,035 shares of the company’s stock after selling 25 shares during the quarter. Community Bank N.A.’s holdings in McKesson were worth $758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Brighton Jones LLC lifted its position in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after buying an additional 798 shares in the last quarter. GAMMA Investing LLC lifted its position in McKesson by 12.5% during the 1st quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock worth $2,393,000 after buying an additional 396 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in McKesson by 4.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock worth $123,332,000 after buying an additional 7,556 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in McKesson by 16.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock worth $524,000 after buying an additional 111 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in McKesson by 5.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 46,811 shares of the company’s stock worth $31,503,000 after buying an additional 2,508 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,189 shares of company stock worth $16,722,190. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MCK. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Citigroup lifted their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Jefferies Financial Group lifted their price target on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley lifted their price target on McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Finally, TD Cowen lifted their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $834.54.

McKesson Stock Performance

Shares of MCK opened at $782.07 on Wednesday. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $783.89. The firm has a market cap of $97.27 billion, a P/E ratio of 31.18, a price-to-earnings-growth ratio of 1.39 and a beta of 0.52. The firm’s 50-day simple moving average is $710.10 and its 200 day simple moving average is $707.89.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. During the same quarter last year, the company posted $7.88 EPS. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. As a group, equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Tuesday, September 2nd. This is a boost from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is currently 13.08%.

McKesson Company 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.