Glenview Trust co Sells 108 Shares of McKesson Co. (NYSE:MCK)

Glenview Trust co decreased its stake in shares of McKesson Co. (NYSE:MCK) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,889 shares of the company’s stock after selling 108 shares during the period. Glenview Trust co’s holdings in McKesson were worth $1,646,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. Harbour Investments Inc. grew its holdings in shares of McKesson by 8.1% in the fourth quarter. Harbour Investments Inc. now owns 1,277 shares of the company’s stock worth $728,000 after acquiring an additional 96 shares during the period. Choate Investment Advisors lifted its stake in shares of McKesson by 5.5% in the 4th quarter. Choate Investment Advisors now owns 2,361 shares of the company’s stock worth $1,346,000 after purchasing an additional 123 shares during the period. Natixis Advisors LLC boosted its holdings in shares of McKesson by 14.6% in the fourth quarter. Natixis Advisors LLC now owns 207,617 shares of the company’s stock worth $118,323,000 after buying an additional 26,515 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after buying an additional 17 shares during the period. Finally, Copperwynd Financial LLC increased its holdings in McKesson by 1.0% during the fourth quarter. Copperwynd Financial LLC now owns 2,294 shares of the company’s stock valued at $1,307,000 after buying an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MCK has been the topic of a number of recent research reports. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday. Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $649.36.

McKesson Trading Up 1.1 %

MCK opened at $650.96 on Monday. The company has a market capitalization of $81.58 billion, a price-to-earnings ratio of 29.81, a PEG 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 $663.62. The business’s fifty day simple moving average is $608.54 and its 200-day simple moving average is $570.95.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 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%. On average, equities research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company 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 $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 yield of 0.44%. McKesson’s dividend payout ratio is presently 13.00%.

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.