Tompkins Financial Corp Sells 100 Shares of McKesson Co. (NYSE:MCK)

Tompkins Financial Corp lowered its stake in McKesson Co. (NYSE:MCK) by 14.2% during the 2nd quarter, Holdings Channel reports. The firm owned 605 shares of the company’s stock after selling 100 shares during the quarter. Tompkins Financial Corp’s holdings in McKesson were worth $93,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Reilly Financial Advisors LLC increased its holdings in McKesson by 198.5% during the 1st quarter. Reilly Financial Advisors LLC now owns 200 shares of the company’s stock worth $27,000 after purchasing an additional 133 shares during the period. Trust Co. of Vermont boosted its stake in McKesson by 254.2% in the first quarter. Trust Co. of Vermont now owns 209 shares of the company’s stock valued at $28,000 after acquiring an additional 150 shares in the last quarter. EPG Wealth Management LLC grew its holdings in McKesson by 75.2% in the first quarter. EPG Wealth Management LLC now owns 233 shares of the company’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. OmniStar Financial Group Inc. acquired a new position in shares of McKesson during the first quarter worth $34,000. Finally, Ellevest Inc. lifted its holdings in shares of McKesson by 84.8% during the 1st quarter. Ellevest Inc. now owns 279 shares of the company’s stock valued at $38,000 after purchasing an additional 128 shares during the last quarter. 79.19% of the stock is owned by institutional investors and hedge funds.

MCK opened at $150.16 on Friday. The firm has a market capitalization of $24.90 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 1.75 and a beta of 0.84. The company’s 50 day simple moving average is $151.74 and its two-hundred day simple moving average is $146.75. McKesson Co. has a 1-year low of $112.60 and a 1-year high of $172.18. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.99 and a quick ratio of 0.60.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, May 20th. The company reported $4.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.10 by $0.17. McKesson had a return on equity of 41.07% and a net margin of 0.39%. The company had revenue of $58.54 billion for the quarter, compared to analyst estimates of $55.60 billion. During the same quarter in the previous year, the company posted $3.69 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts anticipate that McKesson Co. will post 14.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.12%. This is a positive change from McKesson’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, August 31st. McKesson’s payout ratio is presently 10.97%.

A number of research firms have commented on MCK. Guggenheim increased their price target on McKesson from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Wolfe Research raised shares of McKesson from a “peer perform” rating to an “outperform” rating and set a $184.00 target price on the stock in a research report on Friday, May 22nd. Morgan Stanley upped their target price on McKesson from $163.00 to $194.00 and gave the company an “overweight” rating in a research report on Monday, June 15th. Zacks Investment Research lowered shares of McKesson from a “hold” rating to a “sell” rating and set a $161.00 price target for the company. in a research report on Thursday, July 16th. Finally, Mizuho upped their price objective on shares of McKesson from $140.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $172.79.

In other McKesson news, CFO Britt J. Vitalone sold 1,034 shares of McKesson stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $149.60, for a total value of $154,686.40. Following the sale, the chief financial officer now owns 1,048 shares in the company, valued at $156,780.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lori A. Schechter sold 5,488 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $160.00, for a total value of $878,080.00. Following the completion of the transaction, the executive vice president now directly owns 11,397 shares in the company, valued at approximately $1,823,520. The disclosure for this sale can be found here. In the last three months, insiders sold 9,000 shares of company stock valued at $1,394,429. Corporate insiders own 0.28% of the company’s stock.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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