Park National Corp OH Sells 1,404 Shares of McKesson Co. (NYSE:MCK)

Park National Corp OH reduced its stake in McKesson Co. (NYSE:MCK) by 7.7% during the 4th quarter, HoldingsChannel reports. The fund owned 16,852 shares of the company’s stock after selling 1,404 shares during the quarter. Park National Corp OH’s holdings in McKesson were worth $9,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Private Advisor Group LLC lifted its position in shares of McKesson by 4.2% in the second quarter. Private Advisor Group LLC now owns 11,467 shares of the company’s stock worth $6,697,000 after purchasing an additional 462 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in McKesson by 254.0% during the second quarter. Los Angeles Capital Management LLC now owns 2,418 shares of the company’s stock valued at $1,412,000 after purchasing an additional 1,735 shares during the last quarter. PFG Investments LLC bought a new position in McKesson in the second quarter valued at approximately $249,000. Prudential PLC increased its position in shares of McKesson by 0.4% during the 2nd quarter. Prudential PLC now owns 14,704 shares of the company’s stock worth $8,588,000 after purchasing an additional 52 shares during the last quarter. Finally, Wedbush Securities Inc. raised its stake in shares of McKesson by 1.9% during the 2nd quarter. Wedbush Securities Inc. now owns 1,680 shares of the company’s stock worth $981,000 after purchasing an additional 32 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of MCK opened at $585.34 on Wednesday. The firm has a market cap of $74.30 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 1.25 and a beta of 0.49. The firm has a 50 day moving average price of $587.85 and a 200-day moving average price of $561.25. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.23 earnings per share. As a group, equities research analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MCK shares. Bank of America decreased their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday. Citigroup lifted their target price on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $648.71.

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.