Bank of New York Mellon Corp Sells 3,326 Shares of McKesson Corporation $MCK

Bank of New York Mellon Corp trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 827,398 shares of the company’s stock after selling 3,326 shares during the period. Bank of New York Mellon Corp owned about 0.67% of McKesson worth $639,198,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MCK. EPG Wealth Management LLC raised its holdings in shares of McKesson by 5.3% in the third quarter. EPG Wealth Management LLC now owns 2,412 shares of the company’s stock worth $1,864,000 after buying an additional 122 shares during the period. DSG Capital Advisors LLC increased its stake in McKesson by 97.7% in the third quarter. DSG Capital Advisors LLC now owns 1,570 shares of the company’s stock worth $1,213,000 after purchasing an additional 776 shares during the period. Barlow Wealth Partners Inc. bought a new stake in shares of McKesson during the third quarter worth $12,640,000. Paragon Private Wealth Management LLC boosted its stake in shares of McKesson by 8.0% during the third quarter. Paragon Private Wealth Management LLC now owns 618 shares of the company’s stock valued at $478,000 after purchasing an additional 46 shares during the period. Finally, Northstar Advisory Group LLC bought a new position in shares of McKesson in the third quarter worth about $1,226,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction on Monday, January 5th. The shares were sold at an average price of $816.18, for a total value of $225,265.68. Following the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. TD Cowen reissued a “buy” rating on shares of McKesson in a research report on Monday, December 22nd. Wells Fargo & Company boosted their price target on McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. UBS Group increased their price objective on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Robert W. Baird set a $968.00 target price on McKesson in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group upped their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $895.79.

McKesson Trading Down 1.0%

Shares of NYSE:MCK opened at $826.18 on Thursday. The company has a market capitalization of $101.98 billion, a PE ratio of 25.71, a P/E/G ratio of 1.37 and a beta of 0.41. McKesson Corporation has a 12-month low of $570.51 and a 12-month high of $895.58. The business’s fifty day simple moving average is $829.36 and its 200-day simple moving average is $772.43.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter last year, the company earned $7.07 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts predict that McKesson Corporation 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 Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is presently 10.21%.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.