Community Bank N.A. Sells 450 Shares of McKesson Co. (NYSE:MCK)

Community Bank N.A. decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 25.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,310 shares of the company’s stock after selling 450 shares during the period. Community Bank N.A.’s holdings in McKesson were worth $747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Stevens Capital Management LP bought a new position in McKesson during the 4th quarter valued at approximately $320,000. LPL Financial LLC raised its position in shares of McKesson by 7.9% in the 4th quarter. LPL Financial LLC now owns 138,196 shares of the company’s stock worth $78,759,000 after acquiring an additional 10,148 shares in the last quarter. Heron Bay Capital Management raised its position in shares of McKesson by 2.4% in the 4th quarter. Heron Bay Capital Management now owns 19,316 shares of the company’s stock worth $11,008,000 after acquiring an additional 456 shares in the last quarter. Mosley Wealth Management raised its position in shares of McKesson by 9.7% in the 4th quarter. Mosley Wealth Management now owns 711 shares of the company’s stock worth $429,000 after acquiring an additional 63 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of McKesson in the 4th quarter worth approximately $32,468,000. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock worth $11,187,351 in the last ninety days. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of several research reports. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company raised their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Trading Down 1.0 %

Shares of MCK opened at $659.45 on Monday. The business’s fifty day simple moving average is $616.14 and its two-hundred day simple moving average is $574.35. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $673.23. The company has a market cap of $82.65 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

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.