McKesson Corporation $MCK Shares Sold by Park National Corp OH

Park National Corp OH reduced its position in shares of McKesson Corporation (NYSE:MCK) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,304 shares of the company’s stock after selling 1,183 shares during the quarter. Park National Corp OH’s holdings in McKesson were worth $11,359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Delos Wealth Advisors LLC acquired a new stake in shares of McKesson during the 2nd quarter valued at $27,000. Greykasell Wealth Strategies Inc. lifted its holdings in shares of McKesson by 104.8% during the 4th quarter. Greykasell Wealth Strategies Inc. now owns 43 shares of the company’s stock valued at $35,000 after buying an additional 22 shares during the last quarter. Clearstead Trust LLC acquired a new position in McKesson in the second quarter worth approximately $37,000. Security National Bank of SO Dak acquired a new stake in McKesson in the second quarter valued at approximately $39,000. Finally, Evelyn Partners Investment Management Services Ltd acquired a new stake in McKesson in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of several analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $845.00 price objective on shares of McKesson in a research note on Monday, September 14th. Wells Fargo & Company boosted their target price on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 4th. Finally, UBS Group boosted their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

Insider Transactions at McKesson

In other news, CEO Brian Tyler sold 8,463 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 8,875 shares of company stock valued at $7,083,441. Corporate insiders own 0.06% of the company’s stock.

McKesson Price Performance

Shares of MCK traded up $16.05 during mid-day trading on Monday, reaching $918.33. The company had a trading volume of 154,775 shares, compared to its average volume of 939,217. The company has a market capitalization of $107.07 billion, a P/E ratio of 24.58, a P/E/G ratio of 1.79 and a beta of 0.30. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $999.00. The company’s 50-day moving average is $880.02 and its 200-day moving average is $832.83.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same period last year, the business earned $8.26 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts expect that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.94 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 1st. McKesson’s payout ratio is currently 10.06%.

About McKesson

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.