McKesson Corporation $MCK Shares Sold by Park National Corp OH

Park National Corp OH reduced its position in shares of McKesson Corporation (NYSE:MCK) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,057 shares of the company’s stock after selling 978 shares during the period. Park National Corp OH’s holdings in McKesson were worth $11,033,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Kera Capital Partners Inc. acquired a new position in shares of McKesson during the second quarter worth $234,000. Private Client Services LLC lifted its position in shares of McKesson by 44.6% during the second quarter. Private Client Services LLC now owns 483 shares of the company’s stock worth $354,000 after purchasing an additional 149 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of McKesson during the first quarter worth $3,387,000. Voya Investment Management LLC lifted its position in shares of McKesson by 92.3% during the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after purchasing an additional 312,473 shares in the last quarter. Finally, 1248 Management LLC acquired a new position in shares of McKesson during the first quarter worth $101,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCK. Cowen reissued a “buy” rating on shares of McKesson in a research report on Thursday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $810.00 price target (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Wells Fargo & Company upped their price target on shares of McKesson from $766.00 to $772.00 and gave the company an “equal weight” rating in a report on Wednesday, August 13th. Wall Street Zen cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 13th. Finally, Evercore ISI upped their price target on shares of McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $725.10.

McKesson Stock Performance

Shares of NYSE:MCK opened at $711.32 on Friday. The stock has a market capitalization of $88.48 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89. The company’s fifty day moving average is $697.81 and its two-hundred day moving average is $693.98.

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

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.82 per share. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. McKesson’s payout ratio is currently 13.08%.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the company’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares of the company’s stock, valued at $19,735,884.48. This represents a 41.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,560 shares of company stock valued at $30,438,602 in the last 90 days. Insiders own 0.08% of the company’s stock.

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.