Hilltop National Bank Reduces Stock Position in McKesson Co. (NYSE:MCK)

Hilltop National Bank cut its stake in McKesson Co. (NYSE:MCK) by 58.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,584 shares of the company’s stock after selling 2,241 shares during the quarter. Hilltop National Bank’s holdings in McKesson were worth $903,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. Wolff Wiese Magana LLC lifted its holdings in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC bought a new position in McKesson in the 3rd quarter valued at $40,000. Finally, Centennial Bank AR purchased a new position in shares of McKesson during the 2nd quarter valued at $53,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent analyst reports. 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. Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $648.71.

McKesson Stock Up 0.0 %

Shares of McKesson stock traded up $0.29 on Friday, hitting $590.55. The stock had a trading volume of 109,653 shares, compared to its average volume of 532,282. The stock’s 50-day simple moving average is $591.44 and its two-hundred day simple moving average is $561.65. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The stock has a market cap of $74.96 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.25 and a beta of 0.52.

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

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently 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.