Cetera Trust Company N.A Sells 295 Shares of McKesson Co. (NYSE:MCK)

Cetera Trust Company N.A cut its holdings in shares of McKesson Co. (NYSE:MCK) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,780 shares of the company’s stock after selling 295 shares during the quarter. McKesson makes up 2.1% of Cetera Trust Company N.A’s portfolio, making the stock its 7th largest position. Cetera Trust Company N.A’s holdings in McKesson were worth $3,352,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MCK. RFP Financial Group LLC increased its holdings in McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after buying an additional 17 shares during the last quarter. Modera Wealth Management LLC increased its stake in shares of McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after purchasing an additional 17 shares during the period. First Western Trust Bank lifted its stake in McKesson by 2.0% in the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after purchasing an additional 18 shares during the last quarter. Finally, KCM Investment Advisors LLC grew its holdings in McKesson by 1.4% during the first quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after purchasing an additional 19 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on MCK shares. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Evercore ISI decreased their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Price Performance

McKesson stock traded down $3.34 during midday trading on Tuesday, hitting $504.98. The company’s stock had a trading volume of 125,631 shares, compared to its average volume of 804,404. The company has a 50-day moving average price of $520.24 and a two-hundred day moving average price of $551.96. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The company has a market cap of $65.62 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $7.27 earnings per share. Sell-side analysts forecast that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were issued a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio is 12.69%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares of the company’s stock, valued at $51,546,684.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is owned by company insiders.

McKesson Company 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.