Bremer Bank National Association Reduces Stock Position in McKesson Co. (NYSE:MCK)

Bremer Bank National Association trimmed its holdings in McKesson Co. (NYSE:MCK - Free Report) by 92.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 945 shares of the company's stock after selling 11,016 shares during the quarter. Bremer Bank National Association's holdings in McKesson were worth $539,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. M.E. Allison & CO. Inc. purchased a new stake in McKesson during the 4th quarter valued at about $264,000. Successful Portfolios LLC bought a new stake in McKesson in the fourth quarter valued at approximately $219,000. Grove Bank & Trust boosted its stake in shares of McKesson by 6.6% during the fourth quarter. Grove Bank & Trust now owns 453 shares of the company's stock valued at $258,000 after purchasing an additional 28 shares during the period. Artemis Investment Management LLP grew its holdings in shares of McKesson by 14.1% in the fourth quarter. Artemis Investment Management LLP now owns 19,239 shares of the company's stock worth $10,964,000 after purchasing an additional 2,374 shares during the last quarter. Finally, Murphy Middleton Hinkle & Parker Inc. purchased a new position in shares of McKesson in the fourth quarter worth $212,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

NYSE MCK traded down $2.50 during trading hours on Monday, reaching $592.69. 686,346 shares of the company's stock traded hands, compared to its average volume of 622,630. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The firm has a 50-day simple moving average of $595.11 and a 200 day simple moving average of $561.01. The firm has a market cap of $75.24 billion, a PE ratio of 30.69, a PEG ratio of 1.26 and a beta of 0.52.

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

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson's payout ratio is presently 14.71%.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company's stock, valued at $494,890.56. This trade represents a 40.12 % 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. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MCK. Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and increased their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Evercore ISI boosted their price target on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Finally, Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $646.14.

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.