McKesson Corporation (NYSE:MCK) Shares Sold by Community Bank N.A.

Community Bank N.A. decreased its holdings in shares of McKesson Corporation (NYSE:MCKFree Report) by 19.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,060 shares of the company’s stock after selling 250 shares during the quarter. Community Bank N.A.’s holdings in McKesson were worth $713,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its position in shares of McKesson by 0.9% during the 1st quarter. State of Alaska Department of Revenue now owns 23,141 shares of the company’s stock worth $15,572,000 after purchasing an additional 215 shares during the period. CWA Asset Management Group LLC grew its stake in McKesson by 6.3% during the 1st quarter. CWA Asset Management Group LLC now owns 979 shares of the company’s stock worth $659,000 after buying an additional 58 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in McKesson by 1.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 2,135 shares of the company’s stock worth $1,438,000 after buying an additional 26 shares during the period. Essex Savings Bank bought a new stake in McKesson in the first quarter valued at $246,000. Finally, Wolf Group Capital Advisors acquired a new position in shares of McKesson during the first quarter valued at $1,651,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In related news, CFO Britt J. Vitalone sold 6,336 shares of McKesson stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the transaction, the chief financial officer now owns 14,760 shares of the company’s stock, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the sale, the chief executive officer now directly owns 51,243 shares of the company’s stock, valued at $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,117 shares of company stock valued at $23,526,451. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK opened at $729.28 on Thursday. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $732.99. The stock has a fifty day moving average price of $706.79 and a two-hundred day moving average price of $646.38. The firm has a market cap of $91.24 billion, a P/E ratio of 28.23, a PEG ratio of 1.44 and a beta of 0.49.

McKesson (NYSE:MCKGet Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business had revenue of $90.82 billion during the quarter, compared to analysts’ expectations of $94 billion. During the same quarter last year, the business posted $6.18 earnings per share. The company’s quarterly revenue was up 18.9% on a year-over-year basis. On average, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson’s dividend payout ratio (DPR) is 10.99%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of analyst reports. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an “equal weight” rating in a report on Tuesday, June 3rd. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. UBS Group lifted their price target on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley increased their price objective on McKesson from $745.00 to $770.00 and gave the stock an “overweight” rating in a report on Wednesday, June 11th. Finally, Wall Street Zen cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 14th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $694.38.

Check Out Our Latest Report on McKesson

McKesson Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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