McKesson Co. (NYSE:MCK) Shares Sold by Cetera Trust Company N.A

Cetera Trust Company N.A lowered its stake in shares of McKesson Co. (NYSE:MCK) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,645 shares of the company’s stock after selling 135 shares during the quarter. McKesson accounts for 2.5% of Cetera Trust Company N.A’s investment portfolio, making the stock its 6th largest position. Cetera Trust Company N.A’s holdings in McKesson were worth $3,787,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its stake in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in McKesson in the third quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC boosted its stake in McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after buying an additional 28 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Down 1.0 %

Shares of NYSE:MCK opened at $580.38 on Wednesday. The company has a market cap of $73.67 billion, a PE ratio of 30.11, a P/E/G ratio of 1.28 and a beta of 0.52. The company’s 50 day moving average is $594.00 and its two-hundred day moving average is $561.06. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

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

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on MCK. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $646.14.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

About McKesson

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.