516 Shares in McKesson Co. (NYSE:MCK) Purchased by Bell Bank

Bell Bank purchased a new position in McKesson Co. (NYSE:MCKFree Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 516 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors also recently bought and sold shares of the stock. Kendall Capital Management lifted its holdings in shares of McKesson by 73.9% during the second quarter. Kendall Capital Management now owns 1,687 shares of the company’s stock valued at $721,000 after purchasing an additional 717 shares during the last quarter. Zimmermann Investment Management & Planning LLC lifted its holdings in shares of McKesson by 5.1% during the second quarter. Zimmermann Investment Management & Planning LLC now owns 3,541 shares of the company’s stock valued at $1,513,000 after purchasing an additional 171 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of McKesson by 0.4% during the third quarter. Raymond James & Associates now owns 144,396 shares of the company’s stock valued at $62,791,000 after purchasing an additional 533 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of McKesson by 4.8% during the second quarter. Brown Advisory Inc. now owns 3,844 shares of the company’s stock valued at $1,643,000 after purchasing an additional 175 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of McKesson by 3,968.9% during the second quarter. International Assets Investment Management LLC now owns 71,816 shares of the company’s stock valued at $846,000 after purchasing an additional 70,051 shares during the last quarter. 82.69% of the stock is owned by institutional investors.

McKesson Trading Down 0.7 %

NYSE:MCK traded down $3.52 during trading hours on Friday, reaching $485.32. The company had a trading volume of 438,769 shares, compared to its average volume of 762,186. McKesson Co. has a 52 week low of $331.75 and a 52 week high of $489.73. The firm has a market cap of $64.58 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.71 and a beta of 0.48. The firm’s 50 day moving average price is $461.17 and its 200-day moving average price is $440.32.

McKesson (NYSE:MCKGet Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.11 by $0.12. McKesson had a net margin of 1.20% and a negative return on equity of 241.79%. The firm had revenue of $77.22 billion during the quarter, compared to the consensus estimate of $76.03 billion. During the same quarter in the previous year, the firm posted $6.06 EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts forecast that McKesson Co. will post 27.25 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Thursday, November 30th. McKesson’s payout ratio is 9.80%.

Insider Activity

In other news, EVP Leann B. Smith sold 660 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $461.26, for a total transaction of $304,431.60. Following the completion of the sale, the executive vice president now owns 1,325 shares of the company’s stock, valued at approximately $611,169.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Leann B. Smith sold 660 shares of McKesson stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $461.26, for a total transaction of $304,431.60. Following the transaction, the executive vice president now owns 1,325 shares in the company, valued at approximately $611,169.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 14,026 shares of McKesson stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $20,853,600. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MCK. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Wells Fargo & Company initiated coverage on shares of McKesson in a report on Thursday, December 14th. They issued an “equal weight” rating and a $502.00 price objective for the company. Morgan Stanley boosted their price objective on shares of McKesson from $459.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Barclays initiated coverage on shares of McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. Finally, TD Cowen boosted their price objective on shares of McKesson from $508.00 to $563.00 and gave the stock an “outperform” rating in a report on Monday, December 11th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $489.31.

View Our Latest Analysis on McKesson

About McKesson

(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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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