Community Bank N.A. Lowers Holdings in McKesson Co. (NYSE:MCK)

Community Bank N.A. cut its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 25.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 institutional investors have also modified their holdings of MCK. Millstone Evans Group LLC acquired a new position in McKesson in the fourth quarter valued at $28,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the 3rd quarter valued at about $31,000. Synergy Asset Management LLC purchased a new stake in McKesson during the 4th quarter valued at approximately $32,000. Crews Bank & Trust purchased a new stake in McKesson during the 4th quarter valued at approximately $33,000. Finally, Atala Financial Inc acquired a new stake in McKesson during the 4th quarter worth approximately $34,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related 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 transaction of $114,602.92. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares of the company's stock, valued at $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. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 over the last quarter. Insiders own 0.11% of the company's stock.

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McKesson Stock Up 0.4 %

Shares of McKesson stock traded up $2.71 on Thursday, hitting $665.73. The company's stock had a trading volume of 172,659 shares, compared to its average volume of 799,736. The firm has a fifty day moving average price of $620.63 and a 200-day moving average price of $577.10. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $671.58. The company has a market capitalization of $83.43 billion, a P/E ratio of 30.54, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly 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, analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson's dividend payout ratio is currently 13.00%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Citigroup cut their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Finally, Morgan Stanley increased their target price on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $649.36.

McKesson Company 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.