Heartland Bank & Trust Co Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Heartland Bank & Trust Co lessened its holdings in McKesson Co. (NYSE:MCK) by 3.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 856 shares of the company’s stock after selling 34 shares during the period. Heartland Bank & Trust Co’s holdings in McKesson were worth $488,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on MCK. Wells Fargo & Company raised their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Evercore ISI upped their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of MCK stock opened at $591.47 on Monday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm has a market capitalization of $75.08 billion, a PE ratio of 30.63, a P/E/G ratio of 1.26 and a beta of 0.52. The stock’s 50-day simple moving average is $592.65 and its 200-day simple moving average is $561.13.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the firm earned $6.23 EPS. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. Sell-side analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 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.