McKesson Co. (NYSE:MCK) Stock Position Trimmed by Heartland Bank & Trust Co

Heartland Bank & Trust Co cut its position in McKesson Co. (NYSE:MCK) by 2.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 890 shares of the company’s stock after selling 26 shares during the quarter. Heartland Bank & Trust Co’s holdings in McKesson were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. LRI Investments LLC bought a new stake in McKesson in the 1st quarter valued at about $28,000. Register Financial Advisors LLC bought a new stake in shares of McKesson during the 1st quarter worth about $29,000. Wolff Wiese Magana LLC raised its position in shares of McKesson by 742.9% during the 3rd 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. ORG Wealth Partners LLC bought a new stake in shares of McKesson during the 3rd quarter worth about $40,000. Finally, ZRC Wealth Management LLC bought a new stake in shares of McKesson during the 1st quarter worth about $48,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 0.7 %

MCK stock opened at $501.76 on Thursday. The company has a market capitalization of $65.20 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The firm has a 50 day moving average of $518.29 and a two-hundred day moving average of $551.37.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate 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 company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.27 earnings per share. On average, research analysts expect that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.57%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. McKesson’s payout ratio is presently 12.69%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Citigroup dropped their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Barclays boosted their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Mizuho boosted their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

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.