Commerce Bank Has $77.52 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Commerce Bank grew its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 2.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 156,781 shares of the company's stock after acquiring an additional 3,020 shares during the quarter. Commerce Bank owned about 0.12% of McKesson worth $77,516,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Swedbank AB bought a new stake in shares of McKesson during the 1st quarter worth about $669,326,000. International Assets Investment Management LLC lifted its position in shares of McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock worth $398,937,000 after acquiring an additional 734,849 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of McKesson by 581.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company's stock worth $74,776,000 after buying an additional 129,031 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of McKesson by 134.6% in the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company's stock worth $128,850,000 after buying an additional 126,567 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of McKesson by 82.1% in the 3rd quarter. Victory Capital Management Inc. now owns 259,397 shares of the company's stock worth $128,251,000 after buying an additional 116,944 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Price Performance

MCK stock traded up $4.94 during midday trading on Wednesday, hitting $620.59. 178,765 shares of the stock traded hands, compared to its average volume of 820,009. The stock's fifty day simple moving average is $524.33 and its 200-day simple moving average is $555.78. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The firm has a market cap of $78.78 billion, a P/E ratio of 31.87, a PEG ratio of 1.31 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company's revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $6.23 earnings per share. On average, research analysts predict that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.46%. McKesson's dividend payout ratio (DPR) is currently 14.71%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on MCK shares. Wells Fargo & Company reduced their price target on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a research report on Friday, September 13th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Finally, Evercore ISI lifted their target price on McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $631.57.

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.