Simmons Bank Has $533,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Simmons Bank cut its position in shares of McKesson Co. (NYSE:MCK) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 936 shares of the company’s stock after selling 100 shares during the period. Simmons Bank’s holdings in McKesson were worth $533,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the 3rd quarter valued at $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust bought a new position in McKesson during the fourth quarter worth about $33,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson during the fourth quarter worth about $44,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 0.4 %

Shares of MCK opened at $621.03 on Friday. The stock’s fifty day simple moving average is $592.91 and its 200-day simple moving average is $563.46. The firm has a market capitalization of $77.83 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,268 shares of company stock worth $11,536,378. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MCK. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Bank of America lowered their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company upped their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

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.