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

Park National Corp OH lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,852 shares of the company’s stock after selling 1,404 shares during the period. Park National Corp OH’s holdings in McKesson were worth $9,604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wolff Wiese Magana LLC boosted 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 valued at $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the third quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $40,000. Finally, Centennial Bank AR acquired a new position in shares of McKesson in the 2nd quarter worth approximately $53,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $585.34 on Wednesday. The company’s 50 day simple moving average is $587.85 and its 200 day simple moving average is $561.25. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm has a market capitalization of $74.30 billion, a P/E ratio of 30.31, a P/E/G ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the firm earned $6.23 earnings per share. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. Sell-side analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.71 dividend. 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 dividend payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of analyst reports. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Bank of America dropped their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $648.71.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.