Trust Co. of Toledo NA OH Sells 399 Shares of McKesson Corporation $MCK

Trust Co. of Toledo NA OH reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 3.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,759 shares of the company’s stock after selling 399 shares during the quarter. McKesson accounts for approximately 0.8% of Trust Co. of Toledo NA OH’s portfolio, making the stock its 29th largest holding. Trust Co. of Toledo NA OH’s holdings in McKesson were worth $7,151,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MCK. Nuveen LLC bought a new position in shares of McKesson in the 1st quarter worth approximately $475,235,000. Wellington Management Group LLP increased its holdings in McKesson by 4,559.6% in the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after buying an additional 418,524 shares in the last quarter. Boston Partners raised its holdings in shares of McKesson by 33.3% during the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after purchasing an additional 365,484 shares during the last quarter. Voya Investment Management LLC boosted its holdings in McKesson by 92.3% in the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after purchasing an additional 312,473 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in McKesson during the 1st quarter valued at $140,742,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MCK shares. Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Morgan Stanley lifted their target price on McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Evercore ISI raised their price target on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. UBS Group boosted their target price on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Mizuho increased their price target on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $829.08.

McKesson Stock Up 0.8%

MCK opened at $763.89 on Friday. The business has a fifty day simple moving average of $707.48 and a 200-day simple moving average of $706.09. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $776.14. The firm has a market cap of $95.01 billion, a P/E ratio of 30.46, a P/E/G ratio of 1.37 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). The business had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.88 EPS. Sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s dividend payout ratio is 13.08%.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,189 shares of company stock valued at $16,722,190 in the last quarter. 0.08% of the stock is currently owned by company insiders.

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.