McKesson Co. (NYSE:MCK) Stock Position Lessened by Cetera Trust Company N.A

Cetera Trust Company N.A trimmed its position in McKesson Co. (NYSE:MCK) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,645 shares of the company’s stock after selling 135 shares during the period. McKesson makes up approximately 2.5% of Cetera Trust Company N.A’s holdings, making the stock its 6th biggest holding. Cetera Trust Company N.A’s holdings in McKesson were worth $3,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the third quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the third quarter valued at $31,000. ORG Wealth Partners LLC acquired a new position in shares of McKesson in the 3rd quarter valued at $40,000. Finally, Bruce G. Allen Investments LLC raised its stake in McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after acquiring an additional 28 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on MCK shares. Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Morgan Stanley increased their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Buying and Selling

In other McKesson 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 transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by insiders.

McKesson Trading Down 1.0 %

Shares of MCK opened at $580.38 on Wednesday. The firm has a market cap of $73.67 billion, a P/E ratio of 30.11, a PEG ratio of 1.28 and a beta of 0.52. The stock’s 50 day moving average is $594.00 and its two-hundred day moving average is $561.06. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates 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 was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.23 EPS. Equities research analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

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

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.