Global Trust Asset Management LLC Sells 30 Shares of McKesson Co. (NYSE:MCK)

Global Trust Asset Management LLC cut its holdings in McKesson Co. (NYSE:MCK) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,289 shares of the company’s stock after selling 30 shares during the period. McKesson makes up 1.0% of Global Trust Asset Management LLC’s portfolio, making the stock its 23rd largest position. Global Trust Asset Management LLC’s holdings in McKesson were worth $2,615,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MCK. Swedbank AB bought a new stake in McKesson in the first quarter worth $669,326,000. International Assets Investment Management LLC raised its stake in shares of McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after acquiring an additional 734,849 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of McKesson by 3,621.7% during the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after acquiring an additional 340,007 shares during the last quarter. Bristol Gate Capital Partners Inc. bought a new position in shares of McKesson during the first quarter valued at about $97,510,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of McKesson by 581.0% during the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock valued at $74,776,000 after acquiring an additional 129,031 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 0.6 %

NYSE MCK opened at $504.96 on Friday. The firm has a market cap of $65.61 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The company has a 50 day moving average price of $518.29 and a 200 day moving average price of $551.37. 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, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.27 EPS. On average, equities research analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were issued a $0.71 dividend. This is an increase 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%.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent analyst reports. Evercore ISI lowered their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company decreased their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Leerink Partners decreased their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. JPMorgan Chase & Co. increased their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird reissued a “neutral” rating and issued a $531.00 price target (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $610.86.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’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 sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

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.