Moody National Bank Trust Division Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Moody National Bank Trust Division lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 4.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,985 shares of the company’s stock after selling 94 shares during the quarter. Moody National Bank Trust Division’s holdings in McKesson were worth $1,131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. Old North State Trust LLC lifted its position in McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares during the period. Black Diamond Financial LLC lifted its holdings in shares of McKesson by 1.3% during the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after acquiring an additional 19 shares during the period. QV Investors Inc. boosted its position in shares of McKesson by 0.6% in the third quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after acquiring an additional 20 shares during the last quarter. ASB Consultores LLC increased its position in McKesson by 2.4% during the third quarter. ASB Consultores LLC now owns 879 shares of the company’s stock worth $435,000 after purchasing an additional 21 shares during the last quarter. Finally, Old Port Advisors raised its stake in McKesson by 1.3% during the third quarter. Old Port Advisors now owns 1,742 shares of the company’s stock worth $861,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on MCK shares. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Evercore ISI lifted their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Price Performance

NYSE MCK opened at $584.62 on Tuesday. The company has a market capitalization of $74.21 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The company’s fifty day moving average price is $593.71 and its two-hundred day moving average price is $560.83.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the company posted $6.23 earnings per share. As a group, analysts anticipate that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

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.