OLD National Bancorp IN Sells 455 Shares of McKesson Co. (NYSE:MCK)

OLD National Bancorp IN trimmed its holdings in McKesson Co. (NYSE:MCK) by 5.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,741 shares of the company’s stock after selling 455 shares during the quarter. OLD National Bancorp IN’s holdings in McKesson were worth $5,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Ingalls & Snyder LLC boosted its position in shares of McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after acquiring an additional 1,047 shares during the period. Portfolio Design Labs LLC bought a new stake in shares of McKesson in the fourth quarter valued at approximately $274,000. Warther Private Wealth LLC boosted its position in shares of McKesson by 12.4% in the fourth quarter. Warther Private Wealth LLC now owns 22,403 shares of the company’s stock valued at $12,768,000 after acquiring an additional 2,464 shares during the period. Segall Bryant & Hamill LLC boosted its position in shares of McKesson by 25.5% in the fourth quarter. Segall Bryant & Hamill LLC now owns 81,223 shares of the company’s stock valued at $46,290,000 after acquiring an additional 16,502 shares during the period. Finally, Fred Alger Management LLC boosted its position in shares of McKesson by 95.5% in the fourth quarter. Fred Alger Management LLC now owns 3,091 shares of the company’s stock valued at $1,762,000 after acquiring an additional 1,510 shares during the period. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

McKesson stock opened at $712.99 on Monday. The stock has a fifty day moving average price of $699.69 and a two-hundred day moving average price of $641.34. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $731.00. The firm has a market capitalization of $89.20 billion, a P/E ratio of 32.65, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same period in the prior year, the company posted $6.18 earnings per share. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently commented on MCK shares. Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Morgan Stanley raised their target price on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. UBS Group raised their target price on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Finally, Bank of America raised their target price on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $692.46.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer now directly owns 1,972 shares in the company, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Britt J. Vitalone sold 6,336 shares of the firm’s stock in a transaction on 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. This trade represents a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,747 shares of company stock worth $9,852,587. 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.