CENTRAL TRUST Co Has $5.04 Million Stock Position in McKesson Co. (NYSE:MCK)

CENTRAL TRUST Co lessened its stake in McKesson Co. (NYSE:MCK) by 2.5% in the fourth quarter, Holdings Channel reports. The firm owned 8,850 shares of the company’s stock after selling 229 shares during the quarter. CENTRAL TRUST Co’s holdings in McKesson were worth $5,044,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Commerce Bank increased its stake in shares of McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares during the last quarter. West Oak Capital LLC grew its position in McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after acquiring an additional 2,690 shares during the last quarter. Nordea Investment Management AB raised its stake in McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after acquiring an additional 162,688 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares during the last quarter. Finally, Czech National Bank boosted its stake in shares of McKesson by 4.2% in the 4th quarter. Czech National Bank now owns 27,524 shares of the company’s stock valued at $15,686,000 after purchasing an additional 1,108 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on MCK shares. Evercore ISI increased their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Wells Fargo & Company upped their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Stock Down 1.6 %

McKesson stock opened at $594.85 on Friday. The company has a market capitalization of $75.51 billion, a PE ratio of 30.81, a PEG ratio of 1.30 and a beta of 0.52. The firm’s fifty day moving average is $590.79 and its 200 day moving average is $562.08. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 EPS. The business’s revenue was up 21.3% on a year-over-year basis. Sell-side analysts expect that McKesson Co. will post 32.72 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is 14.71%.

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.