American Trust Sells 795 Shares of McKesson Co. (NYSE:MCK)

American Trust lowered its holdings in McKesson Co. (NYSE:MCK) by 58.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 562 shares of the company’s stock after selling 795 shares during the period. American Trust’s holdings in McKesson were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Miracle Mile Advisors LLC lifted its position in shares of McKesson by 55.8% during the 2nd quarter. Miracle Mile Advisors LLC now owns 874 shares of the company’s stock valued at $510,000 after acquiring an additional 313 shares during the period. Everpar Advisors LLC bought a new stake in McKesson during the second quarter worth about $243,000. Raymond James & Associates grew its stake in McKesson by 4.4% during the second quarter. Raymond James & Associates now owns 164,559 shares of the company’s stock worth $96,109,000 after buying an additional 6,944 shares in the last quarter. Williams Financial LLC bought a new position in McKesson in the 2nd quarter valued at about $9,189,000. Finally, Chapin Davis Inc. raised its position in shares of McKesson by 51.5% in the 2nd quarter. Chapin Davis Inc. now owns 2,785 shares of the company’s stock valued at $1,627,000 after buying an additional 947 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Leerink Partners lowered 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. Deutsche Bank Aktiengesellschaft reduced 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. Finally, Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Two investment 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 company’s stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $643.43.

McKesson Stock Performance

Shares of NYSE MCK opened at $576.58 on Friday. The stock has a market cap of $73.19 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. The firm has a 50 day moving average price of $564.01 and a two-hundred day moving average price of $562.64. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

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

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.